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 0.60 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 1.10 0.7 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 1309.00 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 0.99
1.01 1.03 1.05 1.06 1.14
Stock Market 8991.21
points
8397 8147 7905 7671 6799
Government Bond 10Y -0.05
percent
0.03 0.06 0.1 0.14 0.35
GDP Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
GDP Growth Rate 0.60
percent
0.6 0.7 0.4 0.4 0.4
GDP Annual Growth Rate 2.20
percent
2 2.2 1.5 1.4 2.6
GDP 678.89
USD Billion
692 692 702 702 715
GDP Constant Prices 171856.45
CHF Million
171469 174543 174434 170939 183558
Gross Fixed Capital Formation 43177.60
CHF Million
42904 43258 43825 42692 45493
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 5025.00
Thousand
5016 5010 5010 5011 5009
Unemployed Persons 106579.00
115067 121992 120889 119014 119453
Productivity 102.90
Index Points
103 103 103 103 103
Job Vacancies 15195.00
17241 18719 19306 19958 20647
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 4961.00
Thousand
4983 4991 4995 4999 5025
Part Time Employment 1649.50
Thousand
1620 1654 1641 1637 1641
Youth Unemployment Rate 1.90
percent
2.06 2.14 2.12 2.11 2.12
Wage Growth 0.40
percent
0.29 0.24 0.09 0.13 0.11
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 1.10
percent
0.7 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 102.06
Index Points
102 102 102 103 104
Core Consumer Prices 101.02
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 99.00
Index Points
99.34 99.51 99.65 99.78 101
Producer Prices 103.20
Index Points
103 104 105 106 109
Producer Prices Change 3.50
percent
2.7 2.3 2.5 2.4 2
Export Prices 99.90
Index Points
99.85 99.81 99.83 99.81 99.82
Import Prices 107.76
Index Points
108 109 109 109 109
Food Inflation 2.10
percent
2.05 2.04 2.04 2.04 2.04
Cpi Housing Utilities 103.18
Index Points
103 103 104 104 106
CPI Transportation 104.90
Index Points
101 102 104 106 105
Harmonised Consumer Prices 101.11
Index Points
101 101 101 102 104
Inflation Expectations 0.74
percent
0.71 0.73 0.73 0.73 0.73
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 -0.72
percent
-0.72 -0.72 -0.72 -0.72 0.28
Money Supply M0 544623.00
CHF Million
539742 540818 540336 540612 540511
Money Supply M1 650040.00
CHF Million
654969 656149 657023 657162 657482
Money Supply M2 995509.00
CHF Million
1003003 1005226 1006230 1006680 1007045
Money Supply M3 1045088.00
CHF Million
1054797 1062179 1069491 1076745 1145912
Foreign Exchange Reserves 748517.00
CHF Million
753357 754035 754095 754104 754109
Banks Balance Sheet 2012790.13
CHF Million
2038182 2055456 2072740 2089945 2257725
Loans to Private Sector 1419110.00
CHF Million
1435401 1445414 1455301 1465067 1556426
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 827932.67
CHF Million
823959 824142 824025 823999 823999
TRADE Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Balance of Trade 1309.00
CHF million
2130 1840 1790 2030 880
Exports 18794.15
CHF million
20550 20890 21460 22150 24500
Imports 17485.00
CHF million
18420 19050 19670 20120 23620
Current Account 18134.28
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 1829754.10
CHF Million
1797097 1818681 1807135 1801232 1807621
Terms of Trade 117.19
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 1513.00
Thousand
1300 1400 1400 1400 1400
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 19842.88
CHF Million
19998 20341 20141 20000 21392
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 1140.00
persons
1703 1803 1806 1784 1768
BUSINESS Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Business Confidence 101.70
Index Points
107 109 108 108 105
Manufacturing PMI 61.60
61.9 60.9 60.2 59.7 57.2
Industrial Production 9.00
percent
6.56 6.9 6.64 6.96 7.12
Manufacturing Production 8.60
percent
6.16 6.06 6.17 6.12 6.46
Capacity Utilization 83.53
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 146.20
CHF Million
-2050 -1914 -1470 -1165 -1524
Bankruptcies 13257.00
Companies and Individuals
13484 13816 13805 13794 13867
Car Registrations 37.20
Thousand
27.65 28.38 28.68 28.77 28.78
Internet Speed 21683.45
KBps
25586 25670 26030 27250 33087
IP Addresses 3855605.00
IP
3915080 3934668 3953168 3970973 4140199
Mining Production -4.20
percent
-3.58 -1.97 -0.82 -0.93 -0.04
Zew Economic Sentiment Index 8.00
12.5 18.5 20.6 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 2.00
Index Points
7 11 15 10 5
Retail Sales MoM -1.30
percent
0.9 0.5 -0.4 -0.3 0.4
Retail Sales YoY -0.10
percent
0.9 0.7 1 1.1 1.8
Consumer Spending 92520.50
CHF Million
92959 94260 93908 92984 99128
Personal Savings 14.10
percent
13.69 13.9 13.98 14.07 14.03
Consumer Credit 861013.00
CHF Million
872085 878713 885313 891885 956090
Gasoline Prices 1.72
USD/Liter
1.63 1.54 1.45 1.37 0.77
Households Debt To Gdp 127.80
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 167.29
Index Points
169 169 170 171 177
Construction Output 2.90
percent
1.91 0.31 0.88 0.87 1.2
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 18 18 19
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