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 Q2/18 Q3/18 Q4/18 Q1/19 2020
GDP Growth Rate 0.60 0.5 0.6 0.7 0.4 0.4 percent
Unemployment Rate 2.40 2.6 2.5 2.8 2.5 3.2 percent
Inflation Rate 1.00 0.5 0.7 0.7 0.9 1.9 percent
Interest Rate -0.75 -0.75 -0.75 -0.75 -0.75 0.25 percent
Balance of Trade 2798.79 3000 2130 1840 1790 880 CHF million
Government Debt to GDP 29.70 31.7 31.7 31.7 31.1 30.7 percent
MARKETS Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Currency 0.99
0.98 0.99 1.01 1.03 1.11
Stock Market 8460.58
points
8360 8127 7900 7680 6858
Government Bond 10Y -0.03
percent
0.02 0.03 0.04 0.04 0.11
GDP Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
GDP Growth Rate 0.60
percent
0.5 0.6 0.7 0.4 0.4
GDP Annual Growth Rate 2.20
percent
1.9 2 2.2 1.5 2.6
GDP 659.83
USD Billion
668 656 692 702 715
GDP Constant Prices 171856.45
CHF Million
170180 171469 174543 174434 183558
Gross Fixed Capital Formation 43177.60
CHF Million
42503 42904 43258 43825 45493
GDP per capita 75725.65
USD
76210 76210 76210 76630 76850
GDP per capita PPP 56625.14
USD
56600 56526 56452 56648 56468
LABOUR Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Unemployment Rate 2.40
percent
2.6 2.5 2.8 2.5 3.2
Employed Persons 5025.00
Thousand
5007 5016 5010 5010 5009
Unemployed Persons 109392.00
101815 99449 106872 108740 106826
Productivity 102.90
Index Points
103 103 103 103 103
Job Vacancies 14102.00
14838 15649 16431 16650 17424
Wages 6260.00
CHF/Month
6270 6270 6270 6320 6370
Wages in Manufacturing 113.10
Index Points
115 115 115 117 118
Population 8.42
Million
8.49 8.49 8.51 8.53 8.77
Retirement Age Women 64.00
64 64 64 64 64
Retirement Age Men 65.00
65 65 65 65 65
Job Offers 70578.00
71172 69379 70492 74111 74685
Labor Force Participation Rate 68.40
percent
68.41 68.49 68.47 68.43 68.45
Long Term Unemployment Rate 1.60
percent
1.65 1.65 1.65 1.65 1.65
Non Farm Payrolls 4961.00
Thousand
4975 4983 4991 4995 5025
Part Time Employment 1649.50
Thousand
1643 1620 1654 1641 1641
Youth Unemployment Rate 2.00
percent
1.96 2.16 2.22 2.2 2.2
Wage Growth 0.40
percent
0.18 0.29 0.24 0.09 0.11
Employment Change 0.30
percent
0.13 0.2 0.21 0.15 0.18
Employment Rate 80.20
percent
79.85 79.85 79.85 79.85 79.85
Full Time Employment 2798.30
Thousand
2817 2844 2832 2811 2833
PRICES Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Inflation Rate 1.00
percent
0.5 0.7 0.7 0.9 1.9
Inflation Rate Mom 0.40
percent
-0.09 0.01 0.8 -0.01 0.6
Consumer Price Index CPI 102.10
Index Points
101 102 102 102 104
Core Consumer Prices 101.11
Index Points
101 101 101 101 102
Core Inflation Rate 0.40
percent
0.4 0.4 0.4 0.4 0.4
GDP Deflator 99.00
Index Points
99.18 99.34 99.51 99.65 101
Producer Prices 103.00
Index Points
102 102 104 105 109
Producer Prices Change 3.20
percent
1.9 1.7 2.3 2.5 2
Export Prices 99.90
Index Points
99.66 99.57 99.52 99.52 99.52
Import Prices 107.67
Index Points
108 109 110 110 110
Food Inflation 1.60
percent
1.6 1.61 1.61 1.61 1.61
Cpi Housing Utilities 103.19
Index Points
102 103 103 104 106
CPI Transportation 105.13
Index Points
101 101 102 104 105
Harmonised Consumer Prices 100.76
Index Points
101 101 101 101 104
Inflation Expectations 0.74
percent
0.7 0.71 0.73 0.73 0.73
MONEY Actual Q2/18 Q3/18 Q4/18 Q1/19 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 549148.00
CHF Million
551246 550376 550892 550577 550693
Money Supply M1 645854.00
CHF Million
648014 649818 650338 650819 651011
Money Supply M2 989667.00
CHF Million
990170 990234 990263 990278 990292
Money Supply M3 1039576.00
CHF Million
1043901 1050889 1057852 1064756 1136502
Foreign Exchange Reserves 740874.50
CHF Million
735590 733704 733847 733972 734007
Banks Balance Sheet 1985996.12
CHF Million
2006476 2022719 2039072 2055355 2229065
Loans to Private Sector 1413859.00
CHF Million
1422958 1432774 1442484 1452070 1549842
Deposit Interest Rate -0.32
percent
-0.32 -0.32 -0.32 -0.32 0.68
Private Debt to GDP 239.26
percent
233 235 238 238 232
Central Bank Balance Sheet 841377.28
CHF Million
848324 847939 847956 847987 847964
TRADE Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Balance of Trade 2798.79
CHF million
3000 2130 1840 1790 880
Exports 19358.57
CHF million
19750 20550 20890 21460 24500
Imports 16559.79
CHF million
16750 18420 19050 19670 23620
Current Account 19679.42
CHF Million
20300 16200 25100 19900 19500
Current Account to GDP 9.80
percent
8.7 8.7 8.7 8.4 7.8
External Debt 1796783.40
CHF Million
1755129 1781091 1768393 1760331 1768691
Terms of Trade 118.08
Index Points
114 114 115 115 112
Capital Flows 578.27
CHF Million
8316 9736 9244 9415 9371
Foreign Direct Investment 965478.00
CHF Million
979202 1017278 1055354 1076634 1328336
Tourist Arrivals 1513.00
Thousand
1400 1300 1400 1400 1400
Gold Reserves 1040.00
Tonnes
1040 1040 1040 1040 1040
Terrorism Index 0.27
0.6 0.72 0.84 0.94 0.76
Tourism Revenues 3677.75
CHF Million
3815 4995 3927 4893 4282
Weapons Sales 186.00
USD Million
186 186 186 186 186
GOVERNMENT Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Government Debt to GDP 29.70
percent
31.7 31.7 31.7 31.1 30.7
Government Budget 1.20
percent of GDP
1 1 1 1.2 1.5
Government Budget Value 1373.00
CHF Million
1912 1912 1912 1912 1912
Government Spending 19842.88
CHF Million
19911 19998 20341 20141 21392
Government Spending to GDP 33.00
percent
33.43 33.32 33.2 33.06 32.13
Government Revenues 223705.00
CHF Million
221482 221482 221482 221482 221482
Government Debt 197684.00
CHF Million
212146 212146 212146 212146 212146
Fiscal Expenditure 221715.00
CHF Million
219570 219570 219570 219570 219570
Military Expenditure 4603.60
USD Million
4652 4669 4685 4682 4858
Asylum Applications 1140.00
persons
1444 1703 1803 1806 1768
BUSINESS Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Business Confidence 100.00
Index Points
102 107 109 108 105
Manufacturing PMI 62.40
62.67 62.05 61.94 61.87 61.81
Industrial Production 9.00
percent
8 6.56 6.9 6.64 7.12
Manufacturing Production 8.60
percent
7.64 6.16 6.06 6.17 6.46
Capacity Utilization 83.53
percent
83.46 83.12 82.9 82.77 82.56
Factory Orders 11.40
percent
8.39 5.35 3.86 3.45 6.02
Changes in Inventories 146.20
CHF Million
-1811 -2050 -1914 -1470 -1524
Bankruptcies 13257.00
Companies and Individuals
12848 12504 12161 12231 11800
Car Registrations 24.56
Thousand
25.65 25.38 25.44 25.45 25.46
Internet Speed 21683.45
KBps
24073 25586 25670 26030 33087
IP Addresses 3855605.00
IP
3897106 3915080 3934668 3953168 4140199
Mining Production -4.20
percent
-0.04 -3.58 -1.97 -0.82 -0.04
Zew Economic Sentiment Index 28.00
21.5 12.5 18.5 20.6 12.2
Competitiveness Index 5.86
Points
5.83 5.83 5.83 5.83 5.83
Competitiveness Rank 1.00
1 1 1 1 1
Ease of Doing Business 33.00
33 33 33 33 33
Corruption Index 85.00
Points
86 86 86 86 88
Corruption Rank 3.00
3 3 3 3 3
CONSUMER Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Consumer Confidence 2.00
Index Points
9 7 11 15 5
Retail Sales MoM 0.00
percent
-0.4 0.9 0.5 -0.4 0.4
Retail Sales YoY 2.20
percent
0.5 0.9 0.7 1 1.8
Consumer Spending 92520.50
CHF Million
92572 92959 94260 93908 99128
Personal Savings 14.10
percent
13.48 13.69 13.9 13.98 14.03
Consumer Credit 858671.00
CHF Million
865313 871965 878584 885175 955844
Gasoline Prices 1.66
USD/Liter
1.58 1.49 1.4 1.32 0.92
Households Debt To Gdp 127.80
percent of GDP
128 128 129 129 129
Households Debt To Income 181.53
percent
181 180 180 180 176
HOUSING Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Housing Index 167.29
Index Points
166 166 166 166 166
Construction Output 2.90
percent
1.94 1.91 0.31 0.88 1.2
Home Ownership Rate 42.50
percent
43.35 43.47 43.59 43.85 43.47
TAXES Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Corporate Tax Rate 17.77
percent
17.77 17.77 17.77 18 19
Personal Income Tax Rate 40.00
percent
40 40 40 40 40
Sales Tax Rate 7.70
percent
7.7 7.7 7.7 8 8
Social Security Rate 12.46
percent
12.46 12.46 12.46 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 6.22 6.21 6.2
CLIMATE Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Temperature 1.88
celsius
10.59 14.93 2.84 -0.28 7.17
Precipitation 18.41
mm
140 149 115 98.16 128