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 Q4/18 Q1/19 Q2/19 Q3/19 2020
GDP Growth Rate 0.70 0.7 0.4 0.4 0.4 0.4 percent
Unemployment Rate 2.40 2.5 2.5 2.6 2.7 3.2 percent
Inflation Rate 1.00 1 0.9 1 1.2 1.9 percent
Interest Rate -0.75 -0.75 -0.75 -0.75 -0.5 0.25 percent
Balance of Trade 1447.00 1840 1790 2030 1900 880 CHF million
Government Debt to GDP 29.70 31.7 31.1 31.1 31.1 30.7 percent
MARKETS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Currency 1.00
0.99 0.99 1 1.01 1.03
Stock Market 8780.23
points
9038 8949 8861 8775 8436
Government Bond 10Y 0.00
percent
0.04 0.05 0.05 0.06 0.09
GDP Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
GDP Growth Rate 0.70
percent
0.7 0.4 0.4 0.4 0.4
GDP Annual Growth Rate 3.40
percent
2.8 2.6 2.5 2.3 2.6
GDP 678.89
USD Billion
692 702 702 702 715
GDP Constant Prices 175638.02
CHF Million
177515 178916 180029 179678 185773
Gross Fixed Capital Formation 43515.30
CHF Million
44138 44596 44603 44516 46192
GDP per capita 76667.44
USD
76800 77000 77000 77000 77200
GDP per capita PPP 57410.17
USD
57600 57800 57800 57800 58000
LABOUR Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Unemployment Rate 2.40
percent
2.5 2.5 2.6 2.7 3.2
Employed Persons 5046.00
Thousand
5068 5078 5088 5098 5180
Unemployed Persons 106586.00
103476 103542 104199 104273 104129
Productivity 104.72
Index Points
106 106 106 106 105
Job Vacancies 33132.00
42577 51421 59702 67456 118410
Wages 6260.00
CHF/Month
6270 6320 6320 6291 6370
Wages in Manufacturing 113.10
Index Points
115 117 114 115 118
Population 8.48
Million
8.48 8.55 8.53 8.55 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
70492 74111 74184 72954 74685
Labor Force Participation Rate 68.40
percent
68.47 68.43 68.44 68.46 68.45
Long Term Unemployment Rate 1.90
percent
1.66 1.84 1.66 1.84 1.67
Non Farm Payrolls 5048.00
Thousand
4991 4995 4999 5204 5025
Part Time Employment 1649.50
Thousand
1654 1641 1637 1622 1641
Youth Unemployment Rate 2.50
percent
2.19 2.21 2.23 2.23 2.22
Wage Growth 0.80
percent
0.99 1.16 1.24 1.28 1.48
Employment Change 0.30
percent
0.32 0.29 0.3 0.31 0.3
Employment Rate 79.90
percent
80 79.64 79.89 79.76 79.85
Full Time Employment 2798.30
Thousand
2832 2811 2822 2842 2833
PRICES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Inflation Rate 1.00
percent
1 0.9 1 1.2 1.9
Inflation Rate Mom 0.10
percent
0.2 0.3 0.4 0.04 0.5
Consumer Price Index CPI 101.87
Index Points
102 102 103 103 105
Core Consumer Prices 100.75
Index Points
101 101 101 101 102
Core Inflation Rate 0.40
percent
0.41 0.4 0.41 0.4 0.41
GDP Deflator 98.40
Index Points
98.87 99.1 99.28 99.47 100
Producer Prices 103.21
Index Points
104 105 106 106 109
Producer Prices Change 2.60
percent
2.3 2.5 2.4 2.3 2
Export Prices 100.50
Index Points
101 101 101 101 101
Import Prices 107.87
Index Points
108 108 108 108 108
Food Inflation 1.50
percent
1.62 1.45 1.57 1.49 1.52
Cpi Housing Utilities 103.50
Index Points
103 104 104 105 107
CPI Transportation 103.19
Index Points
102 104 106 104 105
Harmonised Consumer Prices 101.46
Index Points
101 101 102 103 105
Inflation Expectations 0.70
percent
0.72 0.72 0.72 0.72 0.72
MONEY Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Interest Rate -0.75
percent
-0.75 -0.75 -0.75 -0.5 0.25
Interbank Rate -0.74
percent
-0.74 -0.74 -0.74 -0.49 0.26
Money Supply M0 552562.00
CHF Million
553984 552997 553572 553237 553362
Money Supply M1 655363.00
CHF Million
660036 661997 662450 663012 663175
Money Supply M2 1000964.00
CHF Million
1006153 1008331 1009274 1009686 1010009
Money Supply M3 1050579.00
CHF Million
1059046 1066202 1073210 1080147 1139800
Foreign Exchange Reserves 739701.00
CHF Million
741968 742373 742381 742377 742379
Banks Balance Sheet 2020448.01
CHF Million
2048791 2065642 2082448 2099174 2246193
Loans to Private Sector 1426882.00
CHF Million
1443744 1453435 1463007 1472460 1552435
Deposit Interest Rate -0.32
percent
-0.32 -0.32 -0.32 -0.07 0.68
Private Debt to GDP 239.26
percent
238 238 238 238 232
Central Bank Balance Sheet 803258.54
CHF Million
801133 801345 801165 801153 801158
TRADE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Balance of Trade 1447.00
CHF million
1840 1790 2030 1900 880
Exports 17827.00
CHF million
20890 21460 22150 22750 24500
Imports 16380.00
CHF million
19050 19670 20120 20850 23620
Current Account 22143.83
CHF Million
25100 19900 17015 21800 19500
Current Account to GDP 9.80
percent
9.5 9.8 9.8 9.8 8.8
External Debt 1838035.30
CHF Million
1828224 1836834 1828899 1828626 1831253
Terms of Trade 116.73
Index Points
115 115 116 117 112
Capital Flows 11300.52
CHF Million
12284 13238 12870 12871 13215
Foreign Direct Investment 965478.00
CHF Million
1055354 1076634 1097913 1119193 1328336
Tourist Arrivals 2217.00
Thousand
1800 2100 2000 2000 2000
Gold Reserves 1040.00
Tonnes
1040 1040 1040 1040 1040
Terrorism Index 0.27
0.27 0.27 0.27 0.27 0.27
Tourism Revenues 4121.43
CHF Million
3683 4070 4117 4956 3700
Weapons Sales 186.00
USD Million
319 307 296 284 247
GOVERNMENT Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Government Debt to GDP 29.70
percent
31.7 31.1 31.1 31.1 30.7
Government Budget 1.20
percent of GDP
1 1.2 1.2 1.2 1.5
Government Budget Value 1373.00
CHF Million
568 1112 24.21 -1064 -868
Government Spending 19857.94
CHF Million
20375 20346 20354 20315 21323
Government Spending to GDP 33.00
percent
33 33 33 33 33
Government Revenues 223705.00
CHF Million
222598 224348 225222 226097 233975
Government Debt 197684.00
CHF Million
227497 207339 197260 187181 166772
Fiscal Expenditure 221715.00
CHF Million
219309 223235 225198 227161 234842
Military Expenditure 4603.60
USD Million
4508 4543 4578 4614 4714
Asylum Applications 1230.00
persons
1664 1730 1722 1700 1689
BUSINESS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Business Confidence 102.20
Index Points
108 108 108 107 105
Manufacturing PMI 59.70
60.9 60.2 59.7 58.85 57.2
Industrial Production 8.30
percent
6.3 6.13 5.56 7.21 6.14
Manufacturing Production 8.80
percent
5.54 6.31 5.46 6.52 6.5
Capacity Utilization 84.22
percent
83.85 84.31 83.9 84.31 83.9
Factory Orders 11.40
percent
3.86 3.45 4.58 5.81 6.02
Changes in Inventories -631.50
CHF Million
-1601 -1137 -634 -830 -992
Bankruptcies 13257.00
Companies and Individuals
13816 13805 13794 13783 13867
Car Registrations 32.20
Thousand
29.58 29.85 29.88 29.86 29.85
Internet Speed 21683.45
KBps
25670 26030 27250 27789 33087
IP Addresses 3855605.00
IP
3934668 3953168 3970973 3988802 4140199
Mining Production -2.70
percent
-3.01 -0.75 0.29 1.12 0.76
Zew Economic Sentiment Index -30.80
-8.6 -14.4 -4.6 5.1 12.2
Competitiveness Index 82.59
Points
5.86 5.86 5.86 5.86 5.86
Competitiveness Rank 4.00
1 1 1 1 1
Ease of Doing Business 33.00
32 33 33 33 37
Corruption Index 85.00
Points
85 85 85 85 85
Corruption Rank 3.00
3 3 3 3 3
CONSUMER Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Consumer Confidence -7.00
Index Points
1 5 10 9 5
Retail Sales MoM 0.30
percent
0.5 -0.4 -0.3 0 0.4
Retail Sales YoY 0.40
percent
0.7 1 1.1 0.7 1.8
Consumer Spending 92768.30
CHF Million
94706 94897 95088 94902 99112
Personal Savings 13.50
percent
13.66 13.6 13.54 13.48 13.73
Consumer Credit 864191.00
CHF Million
874929 881277 887597 893889 949248
Gasoline Prices 1.76
USD/Liter
1.69 1.6 1.51 1.4 1.19
Households Debt To Gdp 128.30
percent of GDP
129 129 129 130 130
Households Debt To Income 181.53
percent
180 180 180 179 176
HOUSING Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Housing Index 166.98
Index Points
168 169 169 170 174
Construction Output 4.30
percent
2.7 3.32 2.35 3.02 2.88
Home Ownership Rate 42.50
percent
43.59 43.85 44.11 44.38 43.47
TAXES Actual Q4/18 Q1/19 Q2/19 Q3/19 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 7.7 7.7 7.7
Social Security Rate 12.46
percent
12.46 12.46 12.46 12.46 12.46
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
6.23 6.23 6.23 6.23 6.23
CLIMATE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Temperature 1.88
celsius
2.84 -0.28 11.11 8.1 7.17
Precipitation 18.41
mm
115 98.16 128 128 128