‘Very positive’ outlook forecast for Swiss economy
Sunnier times ahead? Guests sitting on a restaurant terrace in Lucerne, as seen in April
Keystone / Alexandra Wey
The outlook for the Swiss economy for the middle of 2021 can be regarded as “very positive”, provided that the containment of the virus continues to progress, the KOF Swiss Economic Institute says.
This content was published on
2 minutes
KOF/Keystone-SDA/SWI swissinfo.ch/ilj
Español
es
Perspectivas “muy positivas” para la economía suiza
The KOF Economic Barometer for May stands at 143.2 – which is 6.8 points higher than in April.
“The slight decline that the barometer underwent in the second half of 2020 has been replaced by continuing strong increases in the spring of this year. Once again, the barometer is well above its long-term average,” experts from the Swiss Federal Institute of Technology in Zurich (ETH Zurich) said on FridayExternal link.
According to the KOF, sharp increase was driven by the manufacturing sector and foreign demand, with an “additional positive signal” from the accommodation and food service sectors. It was not all positive news: KOF said slight negative impulses still came from private consumption.
Hotels and restaurants
Public life is gradually re-opening in Switzerland after the relaxation of Covid-19 restrictions – with more easing announced on May 26. Restaurants, for example, will be able to serve both indoors and outdoors from May 31.
More
More
Coronavirus: the situation in Switzerland
This content was published on
An overview of the latest Covid-related information in the Alpine nation.
HotelleriesuisseExternal link, representing hotels, said separately on Friday that there was still “a long way to go” before the sector recovered from the pandemic. It did not expect better results before next year, with the eventual return of foreign tourists.
Economic woes last year
The KOF analysis is in line with a previous prediction by the government: in March its experts said that after a weak start to the year, Switzerland’s economy should recover rapidly from a heavy coronavirus-driven slump to grow by 3% in 2021.
Switzerland’s economy shrank 2.9% last year as a result of Covid-19, the worst annual contraction since the aftermath of the oil crisis in 1975. But official figures showed that the second wave in the autumn had a less harmful effect, with the economy growing 7.6% in the third quarter before slowing to +0.3% in the last three months of the year.
Popular Stories
More
Swiss Politics
Swiss reject plans for bigger motorways and extra rights for landlords
Should raw milk sales be banned or should consumers decide?
Swiss food regulations do not allow raw milk to be sold for direct consumption. However, a loophole allows 400 raw milk vending machines to do just that.
Should Switzerland take measures to support its struggling industries?
Industrial policies are back in fashion, not only in the United States but also in the EU. Should Switzerland, where various industries are struggling, draw inspiration from such policies?
Parliament confirms 13th pension payment to be paid once a year in December
This content was published on
The 13th old-age pension payment will be paid out as planned from December 2026, the Swiss Senate confirmed on Wednesday.
This content was published on
Around 1,000 Swiss farmers took part in a protest action near Bern on Tuesday, calling for less administrative work, more planning security and fairer prices.
UN appeals for more funds to assist 305 million people in need
This content was published on
The United Nations Office for the Coordination of Humanitarian Affairs (OCHA) estimates that around 305 million people will need aid in 2025.
Swiss authorities release right-to-die activist in Sarco ‘suicide capsule’ case
This content was published on
A right-to-die activist has been released from police custody over the reported first use of the Sarco “suicide capsule”, after prosecutors ruled out the possibility of an intentional homicide.
Switzerland demands immediate halt to hostilities in Syria
This content was published on
The Swiss foreign ministry has called for an immediate end to hostilities in Syria. International humanitarian law must be respected, it declared via the social media platform X on Tuesday.
Poll: right-wing Swiss People’s Party enjoys growing support among population
This content was published on
If national elections had been held in Switzerland last month, the right-wing Swiss People's Party would have won, and increased its share of votes by 2% compared to the 2023 federal elections.
This content was published on
Swiss Black Friday revenues failed to live up to retail expectations. But sales throughout the week proved more successful.
This content was published on
The Swiss army will have CH 530 million more than expected for armaments investments after a parliamentary chamber approved the increase.
This content was published on
Swiss citizens could have access to an e-ID from 2026 as parliament has agreed to the idea in principle despite still having to iron out some minor issues.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Switzerland seeks return to normality with eased Covid rules
This content was published on
As of May 31, restaurants, and wellness centres will reopen, with public events to welcome up to 300 people, the government has proposed.
Swiss economist says Covid-19 ‘winners’ should pay more tax
This content was published on
Should companies that netted their best-ever earnings during the coronavirus crisis be subject to extra tax? A top economist says yes.
Swiss government expects fast economic recovery in 2021
This content was published on
After a weak start to the year, the Swiss economy should recover rapidly to grow by 3% in 2021, the government said on Thursday.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.