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Switzerland

Key Indicators

CHE Unemployment rate
registered (all persons) sa Stock or Quantum, SA, % - Switzerland
4, 3.94, 3.88, 3.83, 3.78 3.78
IP
Total, Annual Average (1995=100) - Switzerland
-195.22, -121.27, -126.32, -130.04, 66.94 66.94
GDP
Expenditure Approach, Base year 2000, GDP, Million CHF, at prices of preceding year, NSA - Switzerland
0.26, 2.26, 3.37, 3.02, 3.11 3.11
CPI
Total, NSA, Dec 2010=100 - Switzerland
0.58, 0.29, 0.48, 1.06, 0.29 0.29
Exports of goods & services
Mil of euro (chained 2000 prices), Real, SA, WDA - Switzerland
1.33, 11, 14.63, 3.93, 4 4
data by Factset

Switzerland Outlook: Economy Stabilizes, but EZ Crisis Drains Optimism

Switzerland, an export-oriented economy, is hostage to the uncertain fortunes of the eurozone (EZ). However, a ray of hope is provided by Germany, Switzerland’s neighbor and the largest consumer of its exports, which is likely to experience robust domestic demand growth. Leading economic indicators and business surveys signal some positivity, having already reached their troughs. Deterioration in 2012 will be limited as the exchange rate peg against the euro bolsters industry, to some extent. The inflation trend will continue to have a strong downward bias over the forecast horizon, driven by the Swiss National Bank’s (SNB) desire to approach optimal levels of “leverage;” hence, we do not expect the SNB to raise rates at least until Q4 2013, despite the risk of a housing bubble.

Read the latest Switzerland Outlook

Economic Research

Central Bank Watch

Swiss National Bank: Swimming Against the Tide

By Parul Walia Apr 24, 2012

Global Economic Outlook

Switzerland Outlook: Economy Stabilizes, but EZ Crisis Drains Optimism

By Sehaj Malik Mar 14, 2012

Europe Weekly

European Growth: Reading the Tea Leaves

By Elisa Parisi-Capone, Mark Willis, Jelena Vukotic , Parul Walia, Sehaj Malik, Maya Senussi and Mikko Forss Feb 17, 2012

Central Bank Watch

Swiss National Bank: Can the Exchange Rate Floor Hold?

By Parul Walia Feb 9, 2012

Central Bank Watch

Swiss National Bank: December Update

By Parul Walia Dec 15, 2011

Central Bank Watch

Overview: The Next Cycle

By Michael Manetta Nov 17, 2011

Central Bank Watch

Swiss National Bank: November Update

By Parul Walia Nov 17, 2011

Global Economic Outlook

Switzerland Outlook Update: Set For a Double Dip

By Parul Walia Nov 2, 2011

Central Bank Watch

Pulling Out Policy Rabbits, Putting Policy Ducks in a Row

By Michael Manetta and the RGE Economic Research Team Oct 4, 2011

Europe Weekly

UK QE2; Hungarian Financial Stability Concerns; Swedish Policy Bullets; Swiss Currency Strength; Irish Growth Outlook

By Parul Walia, Jelena Vukotic, Mikko Forss, William Oman and Sehaj Malik Sep 23, 2011

Europe Weekly

Bleak Outlook for Western Europe's Labor Market

By Mikko Forss, Katharina Jungen, Mark Willis, Parul Walia, Sehaj Malik and Filipe Albuquerque Sep 9, 2011

Europe Weekly

Weak Domestic Demand Prospects in Europe, With Few Bright Spots

By Katharina Jungen, Mark Willis, Mikko Forss, Parul Walia, Jelena Vukotic, David Rogovic, William Oman, Sehaj Malik and Filipe Albuquerque Sep 2, 2011

Central Bank Watch

Summary Table: RGE Policy Rate Forecasts and Market Interbank Rate Expectations

By Michael Manetta and the RGE Economic Research Team Aug 19, 2011

Central Bank Watch

Swiss National Bank: August Update

By James Mason and Sehaj Malik Aug 19, 2011

Europe Weekly

Europe-Wide Growth Slowdown

By Elisa Parisi-Capone, Katharina Jungen, Mikko Forss, Jelena Vukotic, Parul Walia, William Oman, Sehaj Malik, Filipe Albuquerque Aug 19, 2011

Europe Weekly

Inflation Concerns Easing in EZ, Switzerland, UK, Hungary and Czech Republic

By Katharina Jungen, Sehaj Malik, Parul Walia and Jelena Vukotic Aug 12, 2011

Economic Research

Global Financial Crisis 2.0: How to Rescue Capitalism

By Nouriel Roubini Aug 12, 2011

Conference Call

Conference Call on S&P's U.S. Downgrade: Opening Remarks

By Nouriel Roubini and David Nowakowski Aug 8, 2011

Global Economic Outlook

Switzerland Outlook Update: SNB Moves to Adopt Quasi-Quantitative Easing

By Sehaj Malik and James Mason Aug 5, 2011

Global Economic Outlook

Switzerland Outlook Update: Continued Franc Strength to Dent Economic Growth

By Sehaj Malik, James Mason and Katharina Jungen Jul 29, 2011

Economic Research

Eastern Europe: Fallout from Italy’s Debt Concerns

By Jelena Vukotic and David Rogovic Jul 19, 2011

Economic Research

Central Bank Watch: The Shifting Tides of Global Monetary Policy

By James Mason and the RGE Economic Research Team Jun 8, 2011

Europe Weekly

Eurozone Core Comes Up Trumps in Q1; UK, EZ Periphery Moving at Half Speed

By Elisa Parisi-Capone, Katharina Jungen and James Mason May 13, 2011

Europe Weekly

Shrinking Eurozone Liquidity; Russia's Banking Worries; Icesave Implications

By Elisa Parisi-Capone, David Rogovic, Mikko Forss, Rachel Ziemba, Sehaj Malik and James Mason May 6, 2011

Economic Research

Is the Global Nuclear Renaissance Over?

By Gary Clark Mar 31, 2011

Europe Weekly

Portugal Rescue; Emerging Europe Nuclear Policy; Turkish Tightening

By Filipe Manuel Pires de Albuquerque, Elisa Parisi-Capone, Jelena Vukotic, James Mason, Sehaj Malik, Parul Walia, Mikko Forss and Mark Willis Mar 25, 2011

Economic Research

Switzerland: SNB on hold until December

By James Mason and Sehaj Malik Mar 25, 2011

Europe Weekly

Russian Tightening; UK Contraction; Swiss Deflation Risk

By Rachel Ziemba, Parul Walia, Mikko Forss, Mark Willis, David Rogovic, James Mason and Pamela Reyes Jan 28, 2011

Economic Research

Switzerland: How Much of a Threat Is Deflation?

By James Mason and Pamela Reyes Jan 28, 2011

Global Economic Outlook

Global Overview: 2011 Outlook

By Christian Menegatti, Nouriel Roubini and the RGE Macroeconomics Team Dec 7, 2010

Global Economic Outlook

Switzerland: 2011 Outlook

By James Mason Dec 7, 2010

Global Economic Outlook

Macro Forecasts: 2011 Outlook

By the RGE Macroeconomics Team Dec 7, 2010

Global Economic Outlook

Switzerland: September 2010 Outlook Update

By Katharina Jungen Sep 10, 2010

Global Economic Outlook

Global Overview: September 2010 Outlook Update

By Nouriel Roubini, Christian Menegatti and the RGE Macroeconomic Team Sep 10, 2010

Europe Weekly

Q2 GDP in the Eurozone and UK; High-Flying Swiss Franc; Turkey's Referendum

By Elisa Parisi-Capone, Mikko Forss, Parul Walia, Mary Stokes and Katharina Jungen Sep 3, 2010

Global Economic Outlook

Switzerland: Q3 2010 Outlook

By Katharina Jungen Jul 10, 2010

Economic Research

Europe Weekly Spotlight

By Mary Stokes, Elisa Parisi-Capone, Katharina Jungen, Mikko Forss, Parul Walia and Jelena Vukotic Jun 18, 2010

Global Economic Outlook

Switzerland: Q2 2010 Outlook

By Katharina Jungen Apr 12, 2010

Global Economic Outlook

Switzerland: Q1 2010 Outlook

By Katharina Jungen Jan 30, 2010

Economic Research

RGE Currency Outlook: The Swiss Franc

By Mikka Pineda Jan 1, 2010

Economic Research

Switzerland Economic Outlook, Q4 2009

By Katharina Jungen Oct 7, 2009

Daily Digest

Analysis

European Economic Forecast– Spring 2012

European Commission  May 11, 2012

Analysis

KOF Economic Barometer: April 2012

KOF Swiss Economic Institute  Apr 27, 2012

Analysis

KOF Economic Barometer: March 2012

KOF Swiss Economic Institute  Mar 30, 2012

Analysis

UBS consumption indicator sluggish

UBS  Mar 27, 2012

Analysis

Switzerland Outlook: Economy Stabilizes, but EZ Crisis Drains Optimism

Roubini Global Economics  Sehaj Malik Mar 14, 2012

News

Swiss Limit Building of 2nd Homes

The New York Times  Mar 16, 2012

Analysis

Gross domestic product in 4th Quarter 2011

Seco  Mar 01, 2012

Analysis

KOF Economic Barometer – The Downfall Has Stopped

KOF Swiss Economic Institute  Feb 29, 2012

News

SNB interim chief warns of eurozone risk

Swissinfo  Feb 07, 2012

News

Weak Swiss PMI Data Suggests Recession Now Kicking in

Wall Street Journal  Feb 01, 2012

Analysis

The SNB, Take III—Imposing a Temporary Hiatus

Roubini Global Economics  Michael Hart Sep 12, 2011

Analysis

KOF Bulletin: Swiss Economy Stagnates in 2012

KOF Swiss Economic Institute  Jan 10, 2012

Analysis

KOF Bulletin: January 2012

KOF Swiss Economic Institute  Jan 20, 2012

News

Switzerland Outlook: View Not as Beautiful

Roubini Global Economics  Parul Walia Dec 05, 2011

Opinions

Swiss Dec prices show deflation still at bay

Reuters  Jan 06, 2012

Analysis

UBS Swiss economic forecasts

UBS  Jan 24, 2012

News

Swiss Franc Plunges On Trader Error

Wall Street Journal  Katie Martin Jan 18, 2012

News

Swiss watch industry defies export gloom

Financial Times  Jan 11, 2012

Analysis

Unicredit: 2012 Outlook-Gradually moving towards a better place

Unicredit Bank  Marco Valli Dec 15, 2011

Analysis

SNB: Outlook didn't justify further action

Unicredit Bank  Alexander Koch Dec 15, 2011

News

Banks Prep for Life After Euro

The Wall Street Journal  Dec 08, 2011

Opinions

Nuclear Remains an Attractive Option for Growing Economies

New York Times  Nathan Myhrvold Dec 05, 2011

Analysis

Switzerland Outlook Update: Set For a Double Dip

Roubini Global Economics  Parul Walia Nov 02, 2011

Analysis

Swiss GDP: Weaker times ahead

Unicredit Bank  Alexander Koch Dec 01, 2011

Research

European Economic Forecast - Autumn 2011

European Commission  Nov 10, 2011

News

Swiss Franc Buckles as Prices Fall

Wall Street Journal  Nov 07, 2011

Analysis

The strong franc and the future of Switzerland's financial market infrastructure

Swiss National Bank  Jean-Pierre Danthine Nov 07, 2011

Analysis

KOF Economic Barometer: Further Marked Slowdown

KOF Swiss Economic Institute  Oct 28, 2011

News

Swiss Trade Surplus Rises In September

RTT News  Oct 20, 2011

News

Swiss Home Prices Surge as Low Rates Spark Risk of Bubble

Bloomberg BusinessWeek  Carolyn Bandel Oct 12, 2011

Analysis

KOF Bulletin October 2011

KOF Swiss Economic Institute  Oct 10, 2011

Opinions

For Swiss, Words Louder Than Actions

Wall Street Journal  Deborah Ball Oct 07, 2011

News

SNB FX reserves rise but cap spend seen 'modest'

Business Live  Oct 06, 2011

News

Swiss Sept. SVME PMI Drops More Than Expected

RTT News  Oct 03, 2011

Analysis

Switzerland: Global Growth Slowdown and Currency Strength Cloud Exports Outlook

Roubini Global Economics  Sehaj Malik Sept 23, 2011

Analysis

Inflation Concerns Easing in EZ, Switzerland, UK, Hungary and Czech Republic

Roubini Global Economics  Jelena Vukotic, Katharina Jungen, Parul Walia and Sehaj Malik Aug 12, 2011

Analysis

Switzerland: KOF Economic Barometer – Downward Movement Continues

KOF Swiss Economic Institute  Oct 02, 2011

Opinions

Does the Swiss National Bank need equity?

Swiss National Bank  Thomas J. Jordan Sep 29, 2011

Analysis

Bleak Outlook for Western Europe's Labor Market

Roubini Global Economics  Katharina Jungen, Mikko Forss, Parul Walia, Mark Willis, Sehaj Malik and Filipe Albuquerque Sep 09, 2011

News

SNB Says It Will Defend Franc Cap ‘With Utmost Determination’

Bloomberg BusinessWeek  Thesing and Wille Sep 26, 2011

Analysis

Quarterly Bulletin - September 2011

Swiss National Bank  Sep 23, 2011

Opinions

Europe's debt crisis prompts central banks to provide dollar liquidity

The Guardian  Larry Elliott Sep 16, 2011

News

Central Banks Pour Dollars Into Europe

The Wall Street Journal  Brian Blackstone Sep 16, 2011

Analysis

SNB: No more inflation risks – for now

Unicredit Bank  Alexander Koch Sep 15, 2011

News

SNB Stresses Resolve on Franc as Interest Rate Stays at Zero

Bloomberg BusinessWeek  Klaus Wille Sep 15, 2011

News

Monetary policy assessment of 15 September 2011

Swiss National Bank  Sep 15, 2011

Blogs

SNB: There is no inflation risk!

Financial Times  Izabella Kaminska Sep 15, 2011

Opinions

Swiss 1970s Inflation Specter Seen in SNB’s Unlimited Sales

Bloomberg BusinessWeek  Klaus Wille Sep 14, 2011

Opinions

Swiss shock for money markets

Belfast Telegraph  Sep 14, 2011

News

Private banks struggle in region of rich pickings

Financial Times  Sep 14, 2011

Analysis

Global: Business Cycle Monitor (September 2011)

Danske Bank  Allan von Mehren and Louise Aggerstrøm Hansen Sep 12, 2011

Opinions

SNB intervenes, traders look for new safe haven

Warsaw Business Journal  Sep 12, 2011

News

Swiss Private Banks to Increase Revenue 17% by 2015, SBA Says

Bloomberg  Giles Broom Sep 12, 2011

Analysis

Weekly Focus: Another week with the focus on Greece

Danske Bank  Allan von Mehren and Steen Bocian Sep 09, 2011

Analysis

Super QE, or beggar-thy-neighbour

The Economist  Sep 09, 2011

Blogs

For Switzerland, Some Franc Advice From China

Wall Street Journal  William Kazer Sep 09, 2011

Opinions

Francly wrong

The Economist  Sep 08, 2011

News

Swiss Franc Peg Could Pave the Way for $2,000 Gold

Mineweb  Amanda Cooper and Jan Harvey Sep 07, 2011

Opinions

Fears over ‘currency wars’ resurface

Financial Times  Sep 07, 2011

Analysis

EUR/CHF Peg : Temporary relaxation, but considerable long-term risks

Natixis Bank  Juan Carlos Rodado and Christian Ott Sep 07, 2011

Blogs

The SNB’s gift to CEE banks

Financial Times  Jan Cienski Sep 07, 2011

Blogs

The amazing Swiss Franc

The Irish Economy  Phillip Lane Sep 07, 2011

Blogs

What will Switzerland do with all those euros?

FT Alphaville  Izabella Kaminska Sep 07, 2011

Blogs

No francs

The Economist  Sep 06, 2011

Blogs

Hungary Welcomes Swiss Franc Floor

Wall Street Journal  Veronika Gulyas Sep 06, 2011

Blogs

CEE currencies wrap: Swiss move helps but only by so much

Financial Times  Jonathan Wheatley Sep 06, 2011

Blogs

Swiss Franc Ceiling Sends Zloty, Forint Surging

Wall Street Journal  Marynia Kruk Sep 06, 2011

Analysis

Swiss Franc: SNB sets minimum target at EURCHF 1.20

Erste Bank (free registration required)  Sep 06, 2011

Blogs

SFr move: relief for CEE borrowers

Financial Times  Stefan Wagstyl Sep 06, 2011

Opinions

The Swiss Choose Inflation

Wall Street Journal  Allan Mattich Sep 06, 2011

News

SNB toughens stance with euro rate target

Swissinfo  Jessica Dacey Sep 06, 2011

Analysis

Global Economy: Troubled Times

KOF Swiss Economic Institute  Sep 06, 2011

News

SNB steps in to weaken Swiss franc

Financial Times  Neil Dennis and Haig Simonian Sep 06, 2011

Analysis

SNB launches "ultimate weapon"

Unicredit Bank  Alexander Koch Sep 06, 2011

News

SNB draws line in the sand to weaken franc

Reuters  Sep 06, 2011

News

Swiss Banks Try to Deflect U.S. Pressure

Wall Street Journal  Mijuk and Greil Sep 05, 2011

Analysis

Spatial Competition in Quality, Demand-Induced Innovation, and Schumpeterian Growth

Swiss National Bank  Auer and Saure Sep 05, 2011

Opinions

Swiss economy continues robust growth

Financial Times  Haig Simonian Sep 02, 2011

Analysis

Gross Domestic Product in Second Quarter 2011

Seco  Sep 01, 2011

Analysis

Swiss GDP: Currency strains ahead

Unicredit Bank  Alexander Koch Sep 01, 2011

News

Switzerland Slashes Stimulus Package

The Wall Street Journal  Goran Mijuk Sep 01, 2011

News

Swiss franc advances as SNB steps back

Financial Times  Peter Garnham Aug 31, 2011