Swiss govt sees economic recovery in H2 2020, barring more pandemic waves, strong containment measures
Fundamental Forex Analysis

Swiss govt sees economic recovery in H2 2020, barring more pandemic waves, strong containment measures

Switzerland’s State Secretariat for Economic Affairs (SECO) is out with its quarterly economic assessment report, with the key highlights found below.

Sees economic recovery in the second half of 2020, barring more pandemic waves, strong containment measures.

Sees 2020 GDP decline of 6.2% vs. -6.7% previous forecast.

Sees 2020 CPI at -0.9% vs. the previous forecast of -1.0%.

Sees 2021 GDP growth of 4.9% vs. the previous forecast of 5.2%.

Sees 2021 CPI at -0.3% vs. the previous forecast of -0.5%.

Sees economic low point in Q2 of this year.

Market reaction

The Swiss franc was little changed on the above growth forecasts, as USD/CHF extended its side trend just below 0.9500 ahead of the European open.

 

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