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 Q1/18 Q2/18 Q3/18 Q4/18 2020
GDP Growth Rate 0.60 0.6 0.5 0.6 0.7 0.4 percent
Unemployment Rate 3.30 3.5 3 3.2 3.6 3.5 percent
Inflation Rate 0.70 1.1 1 1.2 1.4 1.8 percent
Interest Rate -0.75 -0.75 -0.75 -0.5 -0.25 0.5 percent
Balance of Trade 2632.00 2525 2453 2410 3200 2800 CHF million
Government Debt to GDP 32.60 31.7 31.7 31.7 31.7 30.7 percent
MARKETS Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Currency 0.93
0.98 1 1.01 1.03 1.11
Stock Market 8986.72
points
9252 9045 8842 8644 7211
Government Bond 10Y 0.12
percent
0.15 0.18 0.23 0.28 0.69
GDP Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
GDP Growth Rate 0.60
percent
0.6 0.5 0.6 0.7 0.4
GDP Annual Growth Rate 1.20
percent
1.5 1.9 2 2.2 2.6
GDP 659.83
USD Billion
660 658 657 692 715
GDP Constant Prices 169605.09
CHF Million
170839 171224 171499 171689 171788
Gross Fixed Capital Formation 41938.10
CHF Million
42088 42112 42111 42097 41823
GDP per capita 75725.65
USD
76210 76210 76210 76210 76850
GDP per capita PPP 56625.14
USD
56310 56369 56428 56487 55481
LABOUR Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Unemployment Rate 3.30
percent
3.5 3 3.2 3.6 3.5
Employed Persons 5025.00
Thousand
5024 5025 5025 5025 5014
Unemployed Persons 134419.72
131208 126577 122051 117682 86964
Productivity 101.56
Index Points
102 102 102 102 101
Job Vacancies 12943.00
12954 12971 12987 13004 13183
Wages 6257.26
CHF/Month
6221 6231 6241 6251 6184
Wages in Manufacturing 113.20
Index Points
113 113 114 114 115
Population 8.42
Million
8.49 8.49 8.49 8.52 8.66
Retirement Age Women 64.00
64 64 64 64.5 65
Retirement Age Men 65.00
65 65 65 65 65
Wage Growth 0.50
percent
0.54 0.58 0.61 0.64 0.99
Job Offers 58638.00
58037 57108 56406 55891 53450
Labor Force Participation Rate 68.60
percent
68.32 68.31 68.26 68.18 67.88
Long Term Unemployment Rate 1.70
percent
1.68 1.61 1.67 1.62 1.63
Non Farm Payrolls 4956.00
Thousand
4964 4975 4983 4991 5025
Part Time Employment 1620.50
Thousand
1628 1629 1627 1626 1620
Employment Change 0.20
percent
0.45 0.38 0.45 0.39 0.41
Employment Rate 79.90
percent
80.01 80 79.87 79.91 79.56
Full Time Employment 2839.10
Thousand
2784 2798 2815 2805 2787
PRICES Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Inflation Rate 0.70
percent
1.1 1 1.2 1.4 1.8
Inflation Rate Mom -0.10
percent
0 0 0 0.8 0.6
Consumer Price Index CPI 100.70
Index Points
101 101 101 101 101
Core Consumer Prices 99.84
Index Points
99.86 100 99.93 100 99.94
Core Inflation Rate 0.48
percent
0.46 0.48 0.47 0.47 0.44
GDP Deflator 98.60
Index Points
98.5 98.45 98.39 98.32 97.66
Producer Prices 102.22
Index Points
110 110 102 112 122
Producer Prices Change 1.80
percent
1.5 1.9 2.2 2.6 2
Export Prices 99.50
Index Points
99.54 99.48 99.37 99.27 98.73
Import Prices 105.02
Index Points
106 107 107 108 113
Food Inflation 1.00
percent
1 1.02 1.01 1 0.96
Cpi Housing Utilities 102.95
Index Points
103 103 103 103 103
CPI Transportation 100.82
Index Points
101 101 101 101 99.81
Harmonised Consumer Prices 100.45
Index Points
100 100 100 100 99.91
MONEY Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Interest Rate -0.75
percent
-0.75 -0.75 -0.5 -0.25 0.5
Interbank Rate -0.75
percent
-0.73 -0.65 -0.57 -0.49 0.28
Money Supply M0 548412.00
CHF Million
542059 540774 539613 538474 525040
Money Supply M1 632571.00
CHF Million
632365 631575 630824 630117 622069
Money Supply M2 977611.00
CHF Million
974088 970855 968343 966284 947902
Money Supply M3 1026609.00
CHF Million
1025578 1024470 1023643 1023023 1018133
Foreign Exchange Reserves 731437.30
CHF Million
725305 719473 716130 713319 682596
Banks Balance Sheet 1985576.40
CHF Million
1984500 1983920 1983289 1982656 1975087
Loans to Private Sector 1398203.00
CHF Million
1402457 1402887 1402717 1402375 1397503
Deposit Interest Rate -0.21
percent
0.06 0.08 0.1 0.11 1.13
Private Debt to GDP 239.26
percent
230 233 235 238 232
Central Bank Balance Sheet 843306.37
CHF Million
845887 844718 843086 841403 821495
TRADE Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Balance of Trade 2632.00
CHF million
2525 2453 2410 3200 2800
Exports 17113.00
CHF million
19411 18924 18544 18520 18256
Imports 14481.00
CHF million
16272 16296 16026 15902 15431
Current Account 13029.77
CHF Million
13643 14217 13394 13408 11665
Current Account to GDP 11.00
percent
8.7 8.7 8.7 8.7 7.8
External Debt 1755869.00
CHF Million
1638358 1650272 1613525 1577669 1446600
Terms of Trade 119.83
Index Points
114 114 114 114 111
Capital Flows 5130.76
CHF Million
16071 13444 12126 13461 13453
Foreign Direct Investment 965478.00
CHF Million
942546 980747 1018948 1057149 1290594
Tourist Arrivals 1076.00
Thousand
1200 1300 1200 1200 1200
Gold Reserves 1040.00
Tonnes
1042 1045 1049 1055 1129
Terrorism Index 0.27
0.43 0.55 0.67 0.79 0.92
Tourism Revenues 4942.59
CHF Million
3931 4144 4922 3583 3658
Weapons Sales 186.00
USD Million
322 292 262 233 277
GOVERNMENT Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Government Debt to GDP 32.60
percent
31.7 31.7 31.7 31.7 30.7
Government Budget 0.20
percent of GDP
1 1 1 1 1.5
Government Budget Value 1373.00
CHF Million
1063 745 427 109 -902
Government Spending 19934.98
CHF Million
20016 20054 20079 20099 20138
Government Spending to GDP 33.60
percent
33.37 33.25 33.13 33 31.54
Government Revenues 223705.00
CHF Million
220970 221442 221914 222386 224637
Government Debt 197684.00
CHF Million
225227 225715 226202 226690 225496
Fiscal Expenditure 221715.00
CHF Million
219184 218982 218781 218579 220270
Military Expenditure 4824.40
USD Million
4662 4716 4771 4825 5044
Asylum Applications 1295.00
persons
1539 1691 1756 1768 1752
BUSINESS Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Business Confidence 106.90
Index Points
105 102 102 104 101
Manufacturing PMI 65.30
64.11 61.72 59.69 58.18 54.51
Industrial Production 8.60
percent
8.79 7.34 5.4 4.5 1.72
Manufacturing Production 9.10
percent
10.3 9.16 7.51 6.15 1.02
Capacity Utilization 84.01
percent
83.45 84.56 84.86 84.88 83.44
Factory Orders 5.50
percent
7.31 6.04 4.17 2.22 2.3
Changes in Inventories -2069.10
CHF Million
-1780 -1146 -988 -934 -214
Bankruptcies 12927.00
companies and individuals
13274 12987 12701 12414 12127
Car Registrations 27.54
Thousand
26.97 26.53 26.13 25.8 24.68
Internet Speed 21683.45
KBps
22119 23314 24057 22906 22756
IP Addresses 3855605.00
IP
3981543 4003463 4011598 4013584 3939944
Zew Economic Sentiment Index 34.50
24.49 17.98 12.13 14.6 10.1
Mining Production 3.50
percent
4.49 2.18 2.21 1.28 1.29
Competitiveness Index 5.86
Points
5.81 5.81 5.81 5.81 5.86
Competitiveness Rank 1.00
1 1 1 1 2
Ease of Doing Business 33.00
33 33 33 33 30
Corruption Index 86.00
Points
87 87 87 87 88
Corruption Rank 5.00
7 6 6 6 7
CONSUMER Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Consumer Confidence 5.00
Index Points
-3.49 3.21 1.19 -7 -2
Retail Sales MoM -0.70
percent
0.21 0.1 0.12 0.11 0.11
Retail Sales YoY 0.60
percent
0.41 0.57 0.73 0.86 1.26
Consumer Spending 92041.00
CHF Million
92346 92533 92660 92793 93411
Personal Savings 13.70
percent
14.16 13.75 13.34 12.93 12.72
Consumer Credit 849026.00
CHF Million
850989 851103 850945 850724 847853
Gasoline Prices 1.61
USD/Liter
1.62 1.61 1.6 1.59 1.51
Households Debt To Gdp 127.50
percent of GDP
126 125 124 124 120
Households Debt To Income 181.53
percent
180 180 180 180 177
HOUSING Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Housing Index 167.12
Index Points
62.31 73.73 84.3 58.15 230
Construction Output 0.50
percent
2.04 0.33 1.2 1 1.08
Home Ownership Rate 42.50
percent
43.23 43.35 43.47 43.59 43.3
TAXES Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Corporate Tax Rate 17.77
percent
18 18 18 18 19
Personal Income Tax Rate 40.00
percent
40 40 40 40 40
Sales Tax Rate 7.70
percent
8 8 8 8 8
Social Security Rate 12.46
percent
13 13 13 13 13
Social Security Rate For Companies 6.23
percent
6.54 6.54 6.54 6.54 7.13
Social Security Rate For Employees 6.23
percent
6.22 6.22 6.22 6.22 6.2
CLIMATE Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Precipitation 18.41
mm
97.96 140 149 115 128
Temperature 1.88
celsius
-0.28 10.59 14.93 2.84 7.17