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It is unlikely that the next year will bring the expected rise. The association said on Friday that inflation was stubborn and the labor shortage was hampering further growth.
For 2023, Economiesuisse is sticking to its forecast of 0.6 percent growth for Swiss gross domestic product (GDP). Growth of just 0.9 percent is expected for 2024, just below potential growth, according to the association at a media conference. The unemployment rate is expected to rise from 2.2 percent in 2023 to 2.4 percent next year.
The reasons for the limited forecast are the ongoing war in Ukraine with all its negative effects. In addition, rising interest rates are slowing the economy, real wage development is negative, the labor problem continues to be a hindrance, and the global economy is struggling with high inflation.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
