2024-03-26 20:01:52
This content was published on March 27, 2024 – 01:01
(Keystone-ATS) The outlook for the Swiss economy remains moderate for the first half of the year, hampered by the global slowdown. A recovery is only expected during the second half of the year, according to the barometer from the Economic Research Center (KOF) published on Tuesday.
Adjusted for seasonal variations, growth should stand at 1.2% for the whole year, slowed by a decline in investments. These are particularly lacking in construction. The sector should, however, recover from the second half of the year, thanks to civil engineering and public infrastructure projects.
Despite the economic weakness, the job market should remain solid, with a low unemployment rate and an increase in real wages, predict KOF experts. Enough to strengthen purchasing power weighed down by health costs and thereby somewhat support private consumption, also driven by demographic growth.
The horizon is brightening for 2025 with gross domestic product (GDP) expected to increase by 1.8%.
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