Switzerland’s Economy: A Tale of Two Quarters in 2024

Swiss economy expected to have improved moderately in first quarter, according to SNB

Switzerland’s economy is projected to have performed slightly better in the January-March period compared to previous quarters, according to the Swiss National Bank (SNB). Many economic indicators suggest that there was slightly more dynamic economic activity in the first quarter of 2024.

In contrast, during the final three months of 2023, the Swiss economy grew by only 0.3% quarter-on-quarter. The SNB stated that while economic growth was “moderate” and driven primarily by the service sector, manufacturing continued to stagnate.

The main challenge facing manufacturing companies is weak global demand, with companies also grappling with pricing pressures due to the Swiss franc exchange rate. Despite these difficulties, the SNB noted that there are signs of improvement in the business outlook. Services sector firms are expecting robust growth to continue, while manufacturing companies anticipate increases in sales. The SNB remains optimistic about Switzerland’s economic prospects.

Switzerland’s economy is projected to have performed slightly better in the January-March period compared to previous quarters, according to the Swiss National Bank (SNB). Many economic indicators suggest that there was slightly more dynamic economic activity in the first quarter of 2024. In contrast, during the final three months of 2023, the Swiss economy grew…

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