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 0.6 0.4 percent
Unemployment Rate 2.90 2.9 2.9 3.2 3.3 3.6 percent
Inflation Rate 0.80 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 3215.34 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 0.98
0.98 0.99 1.01 1.03 1.11
Stock Market 8787.58
points
8360 8127 7900 7680 6858
Government Bond 10Y 0.12
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 0.6 0.4
GDP Annual Growth Rate 1.90
percent
1.9 2 2.2 2 2.6
GDP 659.83
USD Billion
668 656 692 702 715
GDP Constant Prices 170785.68
CHF Million
170180 171469 174543 171163 183558
Gross Fixed Capital Formation 42327.20
CHF Million
42503 42904 43258 42590 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 2.90
percent
2.9 2.9 3.2 3.3 3.6
Employed Persons 5012.00
Thousand
5014 5025 5016 5023 5019
Unemployed Persons 130413.00
125279 121130 117820 115198 106054
Productivity 101.66
Index Points
101 101 101 101 101
Job Vacancies 12714.00
11933 11609 11589 11717 13041
Wages 6257.26
CHF/Month
6340 6340 6340 6380 6440
Wages in Manufacturing 113.20
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 62103.00
57108 56406 55891 55389 53450
Labor Force Participation Rate 68.60
percent
68.39 68.35 68.28 68.23 67.93
Long Term Unemployment Rate 1.60
percent
1.65 1.65 1.65 1.65 1.65
Non Farm Payrolls 4962.00
Thousand
4975 4983 4991 4995 5025
Part Time Employment 1663.80
Thousand
1662 1618 1661 1620 1654
Wage Growth 0.50
percent
0.4 0.4 0.4 0.4 0.4
Employment Change 0.00
percent
0.21 0.22 0.22 0.22 0.22
Employment Rate 80.20
percent
79.85 79.85 79.85 79.85 79.85
Full Time Employment 2822.30
Thousand
2823 2824 2823 2824 2824
PRICES Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Inflation Rate 0.80
percent
0.5 0.7 0.7 0.9 1.9
Inflation Rate Mom 0.40
percent
-0.06 0.03 0.8 0 0.6
Consumer Price Index CPI 101.46
Index Points
101 102 102 102 104
Core Consumer Prices 100.78
Index Points
101 101 101 101 101
Core Inflation Rate 0.60
percent
0.1 0.3 0.55 0.5 0.29
GDP Deflator 98.80
Index Points
98.7 98.7 98.7 98.7 98.7
Producer Prices 102.33
Index Points
102 102 104 105 109
Producer Prices Change 2.00
percent
1.9 1.7 2.3 2.5 2
Export Prices 100.50
Index Points
101 99.71 98.57 98.47 99.35
Import Prices 105.14
Index Points
105 105 105 104 103
Food Inflation 0.90
percent
0.07 0.09 0.27 0.28 0.22
Cpi Housing Utilities 102.77
Index Points
102 103 103 104 106
CPI Transportation 103.12
Index Points
101 101 102 104 105
Harmonised Consumer Prices 100.56
Index Points
101 101 101 101 104
Inflation Expectations 0.62
percent
0.45 0.45 0.45 0.45 0.45
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
-0.75 -0.75 -0.75 -0.75 0.25
Money Supply M0 545915.00
CHF Million
554737 550904 552439 551826 552001
Money Supply M1 642743.00
CHF Million
640473 637689 631937 625720 626348
Money Supply M2 989135.00
CHF Million
991597 992489 992208 991305 973773
Money Supply M3 1038387.00
CHF Million
1037346 1036579 1032294 1026779 1025265
Foreign Exchange Reserves 737806.00
CHF Million
698919 706424 729030 733534 712581
Banks Balance Sheet 1997636.35
CHF Million
1968833 1976800 1977649 1975885 1980833
Loans to Private Sector 1402946.00
CHF Million
1395069 1386084 1380136 1379716 1390403
Deposit Interest Rate -0.32
percent
-0.3 -0.3 -0.28 -0.25 0.2
Private Debt to GDP 239.26
percent
233 235 238 238 232
Central Bank Balance Sheet 819898.18
CHF Million
821886 821811 821972 822031 822036
TRADE Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Balance of Trade 3215.34
CHF million
3000 2130 1840 1790 880
Exports 19332.37
CHF million
19750 20550 20890 21460 24500
Imports 16117.04
CHF million
16750 18420 19050 19670 23620
Current Account 19679.42
CHF Million
20300 16200 25100 19900 19500
Current Account to GDP 11.00
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 116.13
Index Points
96.07 95.12 95.28 94.36 96
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 1233.00
Thousand
1300 1200 1200 1200 1200
Gold Reserves 1040.00
Tonnes
1040 1040 1040 1040 1041
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 19903.11
CHF Million
19911 19998 20341 20094 21392
Government Spending to GDP 33.60
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 4824.40
USD Million
4652 4669 4685 4682 4858
Asylum Applications 1270.00
persons
1792 1898 1895 1867 1850
BUSINESS Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Business Confidence 106.00
Index Points
106 106 104 106 101
Manufacturing PMI 60.30
60.21 59.16 58.83 58.67 58.54
Industrial Production 8.70
percent
7.6 7.18 7.37 7.29 7.31
Manufacturing Production 9.30
percent
8.29 7.93 8.09 8.02 8.04
Capacity Utilization 84.01
percent
83.46 83.12 82.9 82.77 82.56
Factory Orders 19.60
percent
16.69 10.55 4.61 -0.57 2.89
Changes in Inventories -1098.80
CHF Million
-1099 -3482 -1099 -3481 -1099
Bankruptcies 12927.00
Companies and Individuals
12848 12504 12161 12231 11800
Car Registrations 26.19
Thousand
27.28 27.22 27.14 27.11 27.11
Internet Speed 21683.45
KBps
24073 25586 25670 26030 33087
IP Addresses 3855605.00
IP
3897106 3915080 3934668 3953168 4140199
Mining Production 1.20
percent
1.55 4.22 1.84 3.96 2.67
Zew Economic Sentiment Index 16.70
15.4 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 5.00
Index Points
-0.12 -1.45 -7 -1.89 -2
Retail Sales MoM 0.30
percent
-0.4 0.9 0.5 -0.4 0.4
Retail Sales YoY -0.20
percent
0.5 0.9 0.7 1 1.8
Consumer Spending 92230.80
CHF Million
92572 92959 94260 93387 99128
Personal Savings 14.10
percent
13.48 13.69 13.9 13.98 14.03
Consumer Credit 852833.00
CHF Million
856380 852684 846530 839869 841305
Gasoline Prices 1.53
USD/Liter
1.41 1.32 1.23 1.41 0.82
Households Debt To Gdp 127.50
percent of GDP
127 127 127 127 127
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 167.12
Index Points
166 166 166 166 166
Construction Output 7.10
percent
6.87 0.87 6.67 1.07 5.69
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