Macro - Country Economic Forecasts - Switzerland

We've cut our sporting event-adjusted GDP growth forecasts for Switzerland by 0.2ppts to 1.2% in 2025 and 2026. Although current indicators are in line with our expectations, we now believe highly uncertain US tariff policy will weigh more on business investments in the coming months than initially anticipated.


Switzerland: We see no need for further interest rate cuts
Forecast overview
Recent developments
Short-term outlook
Key drivers of our short-term forecast
Economic risk
Economic risk evaluation
Risk warnings
What to watch out for
Exposure to key global risks
Long-term prospects
Background
Economic development
Structure of the economy
Balance of payments and structure of trade
Policy
Politics

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