Technical Analysis

Swiss government anticipates slowdown in the economy but doesn’t expect recession


  • 2022 GDP growth forecast at +2.0% (previously +2.0%)
  • 2023 GDP growth forecast at +1.0% (previously +1.1%)
  • 2024 GDP growth forecast at +1.6%
  • 2022 CPI forecast at +2.9% (previously +3.0%)
  • 2023 CPI forecast at +2.2% (previously +2.3%)
  • 2024 CPI forecast at +1.5%

In commenting on the forecasts, SECO says that:

“This would point to sluggish growth for the Swiss economy, but not a severe recession. However, the energy situation in Europe is likely to remain tense with gas and electricity prices running high. Furthermore, high international inflation and the tightening of monetary policy are likely to curb demand.”

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