‘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“The slight decline that the barometer underwent in the second half of 2020 has been replaced by continuing strong increases in the spring of this year.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
Foreign affairs
What Trump’s return or a new Harris administration would mean for Switzerland
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.
Is reforming the Swiss pension system still possible, and if so, how?
Solutions still need to be found to meet the challenge of an ageing population and to improve the pensions of low-paid workers, the majority of whom are women.
This content was published on
Czech President Petr Pavel and his wife, Eva Pavlova, arrived in Switzerland on Tuesday at the start of a two-day state visit.
Study shows proliferation of non-native plants is driver of insect invasions
This content was published on
A global study has revealed that insect invasions are being driven by the proliferation of non-native plants. This can can massively disrupt ecological processes, often leading to serious economic impacts.
Swiss set record for world’s longest hyperloop test
This content was published on
Swiss scientists have established a record for the longest-ever hyperloop journey at a facility in Lausanne, Switzerland.
This content was published on
The Swiss army wants to purchase new German armoured howitzers to replace its existing artillery system which has been in operation for over 50 years.
Poll suggests Donald Trump has many fans in Switzerland
This content was published on
Around a quarter of Swiss citizens would vote for Donald Trump if they had the chance, according to a recent poll. This percentage is higher than in many other European countries.
Swiss court rejects special assistance for student with disabilities
This content was published on
The Swiss Federal Court has rejected an application for special assistance from a student with disabilities at the federal technology institute ETH Zurich.
Police arrest 15 drug dealers in Verbier in southern Switzerland
This content was published on
Swiss and French police have arrested 15 suspected drug dealers operating in the mountain resort of Verbier in southern Switzerland.
New European space tech centre in Switzerland launches its first project
This content was published on
The European Space Deep-Tech Innovation Centre (ESDI), launched in collaboration with the Paul Scherrer Institute (PSI), is to be located in the immediate vicinity of the PSI in northern Switzerland.
Swiss Federal Railways launches campaign for safety on public transport
This content was published on
The Swiss Federal Railways is launching a campaign for greater respect and safety on public transport, with posters to go up in stations and on trains starting next week.
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.