SECO lowered Swiss GDP growth forecast for 2022 from 3.4% to 3.0%. GDP growth is projected to slow further to 2.0% in 2023, as the economy normalizes. 2021 GDP growth forecast is revised up slightly from 3.2% to 3.3%.
It said that “international supply and capacity bottlenecks are putting pressure on the industrial sector and causing sharp price increases globally”. Also, “uncertainty surrounding the pandemic has recently become strongly accentuated and several countries have stepped up their containment measures.”
SECO expects a “significant slowdown in economic growth globally and in Switzerland in the 2021/22 winter period”. But economy recovery is “not, however, expected to come to standstill in the medium term”.
