We have lowered our 2024 GDP growth forecast for Switzerland by 0.1ppt to 1.4%, or by 0.2ppts to 1% when adjusted for major sporting events. While Swiss GDP grew by 0.5% q/q in Q2 as we expected, revised past data suggest activity was slightly weaker than reported in previous quarters, affecting our forecast for the whole year.
Switzerland: Pressure on inflation is low, but is high on the franc