Switzerland - Economic Forecasts - 2018-2020 Outlook

This page has economic forecasts for Switzerland including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Switzerland economy.


Overview Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
GDP Growth Rate 0.70 0.6 0.7 0.4 0.4 0.4 percent
Unemployment Rate 2.40 2.3 2.5 2.5 2.6 3.2 percent
Inflation Rate 1.20 0.9 0.7 0.9 1 1.9 percent
Interest Rate -0.75 -0.75 -0.75 -0.75 -0.75 0.25 percent
Balance of Trade 1407.94 2130 1840 1790 2030 880 CHF million
Government Debt to GDP 29.70 31.7 31.7 31.1 31.1 30.7 percent
MARKETS Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Currency 0.97
 0.98 0.99 0.99 1 1.02
Stock Market 9021.61
points		 8961 8873 8787 8701 8365
Government Bond 10Y 0.07
percent		 0.01 0.02 0.03 0.04 0.06
GDP Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
GDP Growth Rate 0.70
percent		 0.6 0.7 0.4 0.4 0.4
GDP Annual Growth Rate 3.40
percent		 3.2 3 2.8 2.9 2.6
GDP 678.89
USD Billion		 692 692 702 702 715
GDP Constant Prices 175638.02
CHF Million		 174041 177861 179265 180732 187047
Gross Fixed Capital Formation 43515.30
CHF Million		 43237 44224 44683 44777 46508
GDP per capita 76667.44
USD		 76800 76800 77000 77000 77200
GDP per capita PPP 57410.17
USD		 57600 57600 57800 57800 58000
LABOUR Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Unemployment Rate 2.40
percent		 2.3 2.5 2.5 2.6 3.2
Employed Persons 5046.00
Thousand 		5057 5068 5078 5088 5180
Unemployed Persons 107893.00
 110966 117809 117637 115920 116120
Productivity 104.72
Index Points		 105 106 106 106 105
Job Vacancies 28496.00
 33425 63893 79812 95654 1614
Wages 6260.00
CHF/Month		 6270 6270 6320 6320 6370
Wages in Manufacturing 113.10
Index Points		 115 115 117 114 118
Population 8.48
Million		 8.48 8.48 8.55 8.53 8.66
Retirement Age Women 64.00
 64 64 64 64 64
Retirement Age Men 65.00
 65 65 65 65 65
Job Offers 70578.00
 69379 70492 74111 74184 74685
Labor Force Participation Rate 68.40
percent		 68.49 68.47 68.43 68.44 68.45
Long Term Unemployment Rate 1.90
percent		 1.84 1.66 1.84 1.66 1.67
Non Farm Payrolls 5048.00
Thousand		 4983 4991 4995 4999 5025
Part Time Employment 1649.50
Thousand		 1620 1654 1641 1637 1641
Youth Unemployment Rate 2.60
percent		 2.89 2.82 2.68 2.69 2.71
Wage Growth 0.80
percent		 1.02 0.99 1.16 1.24 1.48
Employment Change 0.30
percent		 0.2 0.21 0.15 0.19 0.18
Employment Rate 79.40
percent		 79.6 79.83 79.5 79.65 79.63
Full Time Employment 2798.30
Thousand		 2844 2832 2811 2822 2833
PRICES Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Inflation Rate 1.20
percent		 0.9 0.7 0.9 1 1.9
Inflation Rate Mom 0.00
percent		 0.1 0.2 0.3 0.4 0.5
Consumer Price Index CPI 101.81
Index Points		 102 102 102 103 105
Core Consumer Prices 100.78
Index Points		 101 101 101 102 102
Core Inflation Rate 0.50
percent		 0.48 0.49 0.49 0.49 0.49
GDP Deflator 98.40
Index Points		 98.64 98.87 99.1 99.28 100
Producer Prices 103.34
Index Points		 103 104 105 106 109
Producer Prices Change 3.40
percent		 2.7 2.3 2.5 2.4 2
Export Prices 100.50
Index Points		 100 100 100 100 100
Import Prices 107.87
Index Points		 108 108 108 108 108
Food Inflation 1.10
percent		 1.2 1.18 1.17 1.17 1.17
Cpi Housing Utilities 103.40
Index Points		 103 103 104 104 107
CPI Transportation 103.44
Index Points		 101 102 104 106 105
Harmonised Consumer Prices 101.46
Index Points		 101 101 101 102 105
Inflation Expectations 0.70
percent		 0.71 0.72 0.72 0.72 0.72
MONEY Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Interest Rate -0.75
percent		 -0.75 -0.75 -0.75 -0.75 0.25
Interbank Rate -0.73
percent		 -0.73 -0.73 -0.73 -0.73 0.27
Money Supply M0 554256.00
CHF Million		 557909 559017 558160 558638 558465
Money Supply M1 655363.00
CHF Million		 652801 654307 655546 655557 655983
Money Supply M2 1000964.00
CHF Million		 999277 1003227 1004901 1005616 1006167
Money Supply M3 1050579.00
CHF Million		 1049467 1056942 1063865 1070648 1134881
Foreign Exchange Reserves 730908.00
CHF Million		 727471 723294 723390 723539 723571
Banks Balance Sheet 2020448.01
CHF Million		 2027310 2043624 2060165 2076634 2236920
Loans to Private Sector 1426882.00
CHF Million		 1434793 1444720 1454519 1464199 1554704
Deposit Interest Rate -0.32
percent		 -0.32 -0.32 -0.32 -0.32 0.68
Private Debt to GDP 239.26
percent		 235 238 238 238 232
Central Bank Balance Sheet 827935.27
CHF Million		 825733 825185 825111 825092 825100
TRADE Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Balance of Trade 1407.94
CHF million		 2130 1840 1790 2030 880
Exports 18294.60
CHF million		 19550 20890 21460 22150 24500
Imports 16886.66
CHF million		 17420 19050 19670 20120 23620
Current Account 22143.83
CHF Million		 16200 25100 19900 20934 19500
Current Account to GDP 9.80
percent		 8.7 8.7 8.4 8.4 7.8
External Debt 1838035.30
CHF Million		 1797097 1818681 1807135 1801232 1807621
Terms of Trade 116.73
Index Points		 114 115 115 116 112
Capital Flows 11440.23
CHF Million		 11127 11912 13488 13286 13292
Foreign Direct Investment 965478.00
CHF Million		 1017278 1055354 1076634 1097913 1328336
Tourist Arrivals 1926.00
Thousand		 2000 1700 2000 1800 1900
Gold Reserves 1040.00
Tonnes		 1040 1040 1040 1040 1040
Terrorism Index 0.27
 0.72 0.84 0.94 1.04 0.76
Tourism Revenues 4067.59
CHF Million		 4068 3337 4068 3337 3337
Weapons Sales 186.00
USD Million		 295 319 307 296 247
GOVERNMENT Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Government Debt to GDP 29.70
percent		 31.7 31.7 31.1 31.1 30.7
Government Budget 1.20
percent of GDP		 1 1 1.2 1.2 1.5
Government Budget Value 1373.00
CHF Million		 3289 1112 24 -1064 -868
Government Spending 19857.94
CHF Million		 20016 20415 20385 20434 21469
Government Spending to GDP 33.00
percent		 32.98 33.04 33.04 33.04 33
Government Revenues 223705.00
CHF Million		 222598 222598 225222 226097 233975
Government Debt 197684.00
CHF Million		 227497 227497 197260 187181 166772
Fiscal Expenditure 221715.00
CHF Million		 219309 219309 225198 227161 234842
Military Expenditure 4603.60
USD Million		 4514 4508 4543 4578 4714
Asylum Applications 1230.00
persons		 1703 1803 1806 1784 1768
BUSINESS Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Business Confidence 100.30
Index Points		 102 108 108 108 105
Manufacturing PMI 64.80
 62.9 60.9 60.2 59.7 57.2
Industrial Production 8.30
percent		 4.91 6.3 6.13 5.56 6.14
Manufacturing Production 8.80
percent		 6.21 5.54 6.31 5.46 6.5
Capacity Utilization 84.22
percent		 83.84 83.35 83.71 83.3 83.3
Factory Orders 11.40
percent		 5.35 3.86 3.45 4.58 6.02
Changes in Inventories -631.50
CHF Million		 -1325 -1601 -1137 -634 -992
Bankruptcies 13257.00
Companies and Individuals		 13484 13816 13805 13794 13867
Car Registrations 32.20
Thousand		 28.09 29.58 29.85 29.88 29.85
Internet Speed 21683.45
KBps		 25586 25670 26030 27250 33087
IP Addresses 3855605.00
IP		 3915080 3934668 3953168 3970973 4140199
Mining Production -2.70
percent		 -1.39 -3.01 -0.75 0.29 0.76
Zew Economic Sentiment Index -14.30
 -10.2 5.1 15.5 25.4 12.2
Competitiveness Index 5.86
Points		 5.81 5.81 5.86 5.88 5.86
Competitiveness Rank 1.00
 1 1 1 1 1
Ease of Doing Business 33.00
 33 32 33 33 37
Corruption Index 85.00
Points		 85 85 85 85 85
Corruption Rank 3.00
 4 4 4 4 4
CONSUMER Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Consumer Confidence -7.00
Index Points		 -7 1 5 10 5
Retail Sales MoM -1.00
percent		 0.9 0.5 -0.4 -0.3 0.4
Retail Sales YoY -0.30
percent		 0.9 0.7 1 1.1 1.8
Consumer Spending 92768.30
CHF Million		 93470 94890 95082 95459 99791
Personal Savings 13.50
percent		 13.76 13.66 13.6 13.54 13.73
Consumer Credit 864191.00
CHF Million		 869335 875745 882151 888526 950737
Gasoline Prices 1.76
USD/Liter		 1.79 1.69 1.6 1.51 1.19
Households Debt To Gdp 128.30
percent of GDP		 128 129 129 129 129
Households Debt To Income 181.53
percent		 180 180 180 180 176
HOUSING Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Housing Index 166.98
Index Points		 168 168 169 169 174
Construction Output 4.30
percent		 3.08 2.7 3.32 2.35 2.88
Home Ownership Rate 42.50
percent		 43.47 43.59 43.85 44.11 43.47
TAXES Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Corporate Tax Rate 17.77
percent		 17.77 17.77 17.77 17.77 17.77
Personal Income Tax Rate 40.00
percent		 40 40 40 40 40
Sales Tax Rate 7.70
percent		 7.7 7.7 8 8 8
Social Security Rate 12.46
percent		 12.46 12.46 12 12 12
Social Security Rate For Companies 6.23
percent		 6.23 6.23 6.23 6.23 6.23
Social Security Rate For Employees 6.23
percent		 6.22 6.22 6.23 6.23 6.23
CLIMATE Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Temperature 1.88
celsius		 14.93 2.84 -0.28 11.11 7.17
Precipitation 18.41
mm		 149 115 98.16 128 128