As previously forecast, the Federal Expert Group on Business Cycles expects Swiss GDP growth adjusted for sporting events to be significantly below average in 2024 (1.1%; unchanged forecast). As the global economy gradually rebounds, growth is projected to normalise at 1.7% in 2025 (unchanged).1 The economic outlook is subject to both downside and upside risks. The Swiss economy sustained a moderate pace of growth in the fourth quarter of 2023. Once again, services proved the main pillar of growth, while manufacturing saw a decline in value added, especially in the chemical-pharmaceutical industry. Numerous ... (full story)