Switzerland | Economic Forecasts | 2017-2020 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 Q4/17 Q1/18 Q2/18 Q3/18 2020
GDP Growth Rate 0.60 0.6 0.6 0.5 0.6 0.4 percent [+]
Unemployment Rate 3.10 3.4 3.5 3 3.2 3.5 percent [+]
Inflation Rate 0.80 0.8 1.1 1 1.2 1.8 percent [+]
Interest Rate -0.75 -0.75 -0.75 -0.75 -0.5 0.5 percent [+]
Balance of Trade 2333.39 2900 2669 2609 2552 2800 CHF million [+]
Government Debt to GDP 32.60 32.1 31.7 31.7 31.7 30.7 percent [+]
MARKETS Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Currency 0.99 0.97 0.96 0.95 0.94 0.83 [+]
Stock Market 9394.71 9170 9080 8980 8890 7870 points [+]
Government Bond 10Y -0.17 -0.04 -0.04 -0.04 -0.04 -0.05 percent [+]
GDP Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
GDP Growth Rate 0.60 0.6 0.6 0.5 0.6 0.4 percent [+]
GDP Annual Growth Rate 1.20 0.7 1.5 1.9 2 2.6 percent [+]
GDP 659.83 680 649 642 636 715 USD Billion [+]
GDP Constant Prices 169605.09 170303 170839 171224 171499 171788 CHF Million [+]
Gross Fixed Capital Formation 41938.10 42032 42088 42112 42111 41823 CHF Million [+]
GDP per capita 75725.65 75980 76210 76210 76210 76850 USD [+]
GDP per capita PPP 56625.14 56487 56410 56333 56256 55481 USD [+]
LABOUR Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Unemployment Rate 3.10 3.4 3.5 3 3.2 3.5 percent [+]
Employed Persons 5025.00 5019 5024 5025 5025 5014 Thousand [+]
Unemployed Persons 139556.05 139604 136838 133819 130623 102765 [+]
Productivity 100.84 101 101 101 101 101 Index Points [+]
Job Vacancies 12439.00 12122 12149 12175 12201 12420 [+]
Wages 6257.26 6251 6248 6244 6240 6184 CHF/Month [+]
Wages in Manufacturing 113.20 114 114 114 115 115 Index Points [+]
Population 8.42 8.42 8.49 8.49 8.49 8.66 Million [+]
Retirement Age Women 64.00 64 64 64 64 65 [+]
Retirement Age Men 65.00 65 65 65 65 65 [+]
Wage Growth 0.30 0.83 0.87 0.9 0.93 1.19 percent [+]
Job Offers 60070.00 51414 51352 51287 51219 51022 [+]
Labor Force Participation Rate 68.30 68.18 68.11 68.07 68.02 67.82 percent [+]
Long Term Unemployment Rate 1.60 1.61 1.73 1.62 1.71 1.63 percent [+]
Non Farm Payrolls 4956.00 4943 4926 4938 4946 4916 Thousand [+]
Part Time Employment 1653.60 1651 1651 1650 1649 1645 Thousand [+]
Employment Change 0.20 0.52 0.45 0.38 0.45 0.41 percent [+]
Employment Rate 79.80 79.81 79.45 79.68 79.41 79.25 percent [+]
Full Time Employment 2797.70 2792 2769 2759 2771 2760 Thousand [+]
PRICES Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Inflation Rate 0.80 0.8 1.1 1 1.2 1.8 percent [+]
Inflation Rate Mom -0.10 0.5 0.12 0.13 0.13 0.6 percent [+]
Consumer Price Index CPI 100.86 101 101 101 101 101 Index Points [+]
Core Consumer Prices 100.42 100 100 100 100 100 Index Points [+]
Core Inflation Rate 0.60 0.56 0.56 0.54 0.53 0.48 percent [+]
GDP Deflator 98.60 98.54 98.5 98.45 98.39 97.66 Index Points [+]
Producer Prices 101.64 108 110 110 100 122 Index Points [+]
Producer Prices Change 1.80 1 1.5 1.9 2.2 2 percent [+]
Export Prices 98.60 98.12 98.17 98.21 98.26 98.45 Index Points [+]
Import Prices 103.37 104 105 105 106 111 Index Points [+]
Food Inflation 0.30 0.4 0.51 0.59 0.66 0.9 percent [+]
CPI Transportation 100.76 101 101 101 101 100 Index Points [+]
Harmonised Consumer Prices 100.39 100 100 100 100 99.91 Index Points [+]
MONEY Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Interest Rate -0.75 -0.75 -0.75 -0.75 -0.5 0.5 percent [+]
Interbank Rate -0.76 -0.73 -0.68 -0.6 -0.52 0.09 percent [+]
Money Supply M0 546557.00 549891 548778 547658 546540 536601 CHF Million [+]
Money Supply M1 630524.00 633889 636513 637128 636967 631279 CHF Million [+]
Money Supply M2 978631.00 982260 985405 986479 986444 975217 CHF Million [+]
Money Supply M3 1027929.00 1030045 1032218 1033010 1033175 1030156 CHF Million [+]
Foreign Exchange Reserves 738167.90 736561 737533 735670 733224 710374 CHF Million [+]
Banks Balance Sheet 1968400.06 1967866 1967266 1966624 1965978 1960178 CHF Million [+]
Loans to Private Sector 1389912.00 1392841 1393468 1393369 1393050 1389392 CHF Million [+]
Deposit Interest Rate -0.21 0.11 0.22 0.32 0.43 1.13 percent [+]
Private Debt to GDP 211.00 199 199 199 199 195 percent [+]
Central Bank Balance Sheet 835666.51 840090 841359 839971 838302 823180 CHF Million [+]
TRADE Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Balance of Trade 2333.39 2900 2669 2609 2552 2800 CHF million [+]
Exports 19332.75 17480 17955 17974 17861 17573 CHF million [+]
Imports 16999.37 14951 14956 14978 14945 14564 CHF million [+]
Current Account 18748.00 16242 15183 15183 14669 12364 CHF Million [+]
Current Account to GDP 11.00 9.5 8.7 8.7 8.7 7.8 percent [+]
External Debt 1712708.00 1627330 1619202 1590724 1560548 1406855 CHF Million [+]
Terms of Trade 109.59 111 110 110 110 109 Index Points [+]
Capital Flows 12428.00 15902 13706 14182 15051 14497 CHF Million [+]
Foreign Direct Investment 965478.00 873868 884680 895492 906304 1004286 CHF Million [+]
Tourist Arrivals 1876.00 1200 1200 1200 1200 1200 Thousand [+]
Gold Reserves 1039.99 1046 1050 1056 1063 1169 Tonnes [+]
Terrorism Index 0.27 0.35 0.47 0.58 0.7 0.92 [+]
Tourism Revenues 4175.95 3536 3930 4148 4743 3637 CHF Million [+]
Weapons Sales 186.00 233 252 270 289 277 USD Million [+]
GOVERNMENT Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Government Debt to GDP 32.60 32.1 31.7 31.7 31.7 30.7 percent [+]
Government Budget 0.20 0.6 1 1 1 1.5 percent of GDP [+]
Government Budget Value 1323.00 1381 745 427 109 -902 CHF Million [+]
Government Spending 19934.98 19977 20016 20054 20079 20138 CHF Million [+]
Government Spending to GDP 33.60 33 32.81 32.63 32.44 31.54 percent [+]
Government Revenues 219259.00 220499 221442 221914 222386 224637 CHF Million [+]
Government Debt 226607.00 224739 225715 226202 226690 225496 CHF Million [+]
Fiscal Expenditure 217426.00 219385 218982 218781 218579 220270 CHF Million [+]
Military Expenditure 4824.40 4825 4848 4870 4893 5044 USD Million [+]
Asylum Applications 1385.00 1690 1751 1771 1771 1763 persons [+]
BUSINESS Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Business Confidence 110.30 105 107 105 103 101 [+]
Manufacturing PMI 65.10 64.44 62.94 60.74 58.93 54.58 [+]
Industrial Production 8.60 6.72 8.79 7.34 5.4 1.72 percent [+]
Manufacturing Production 9.10 8.42 10.3 9.16 7.51 1.02 percent [+]
Capacity Utilization 82.96 82.59 83.04 83.43 83.64 83.54 percent [+]
Factory Orders 5.50 7.16 7.31 6.04 4.17 2.3 percent [+]
Changes in Inventories -2069.10 -1962 -1780 -1146 -988 -214 CHF Million [+]
Bankruptcies 12927.00 12414 12438 12461 12484 12127 companies and individuals [+]
Car Registrations 29.86 27.33 26.78 26.34 25.98 24.65 Thousand [+]
Internet Speed 21683.45 23417 22119 23314 24057 22756 KBps [+]
IP Addresses 3855605.00 3967802 3981543 4003463 4011598 3939944 IP [+]
Zew Economic Sentiment Index 40.70 17.8 24.9 17.31 11.63 10.1 [+]
Mining Production 3.50 2.59 4.49 2.18 2.21 1.29 percent [+]
Competitiveness Index 5.86 5.81 5.81 5.81 5.81 5.87 Points [+]
Competitiveness Rank 1.00 1 1 1 1 1 [+]
Ease of Doing Business 33.00 33 33 33 33 30 [+]
Corruption Index 86.00 87 87 87 87 88 Points [+]
Corruption Rank 5.00 6 6 6 6 7 [+]
CONSUMER Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Consumer Confidence -2.00 -2 -4.56 -5.03 -6 -2 [+]
Retail Sales MoM -1.50 0.07 0.26 0.12 0.11 0.11 percent [+]
Retail Sales YoY -3.00 -0.69 -0.19 0.11 0.37 1.15 percent [+]
Consumer Spending 92041.00 92172 92346 92533 92660 93411 CHF Million [+]
Personal Savings 13.70 12.93 12.86 12.79 12.72 12.72 percent [+]
Consumer Credit 844502.00 846053 846286 846159 845944 843778 CHF Million [+]
Gasoline Prices 1.50 1.5 1.5 1.49 1.49 1.44 USD/Liter [+]
Households Debt To Gdp 127.50 128 128 127 127 123 percent of GDP [+]
Households Debt To Income 178.57 180 179 179 178 176 percent [+]
HOUSING Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Housing Index 165.59 121 32.23 38.26 23.53 166 Index Points [+]
Construction Output 0.50 1.4 2.04 0.33 1.2 1.08 percent [+]
Home Ownership Rate 43.40 44.4 44.23 44.06 43.89 44.08 percent [+]
TAXES Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Corporate Tax Rate 24.41 19 22.5 24.25 26 27 percent [+]
Personal Income Tax Rate 40.00 40 40 40 40 40 percent [+]
Sales Tax Rate 8.00 8 8 8 8 8 percent [+]
Social Security Rate 12.46 12.79 12.79 12.79 12.79 13.4 percent [+]
Social Security Rate For Companies 6.23 6.58 6.58 6.58 6.58 7.22 percent [+]
Social Security Rate For Employees 6.23 6.21 6.21 6.21 6.22 6.19 percent [+]
CLIMATE Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Precipitation 18.00 127 127 127 127 127 mm [+]
Temperature 1.00 3.25 5.7 9.58 7.27 5.07 celsius [+]