Sluggish economic activity is weighing on growth, with Swiss gross domestic product (GDP) set to increase by 1.1% in 2024, the Organisation for Economic Co-operation and Development (OECD) said on Thursday. Weak external demand, an erosion of households’ purchasing power due to inflation, and tighter financial conditions have dragged down growth, the OECD said in a report. The organisation expects inflation to rise temporarily towards the end of 2024, due to increases in rents and electricity prices, but the rate will remain within the 0%-2% target range set by the Swiss National Bank (SNB). The unemployment rate will rise slightly to 4.4% and is expected to remain unchanged in 2025, the OECD predicted. + Swiss jobless rate hits 20-year low: is it all good news? The economic outlook is made more uncertain by risks such as a disruption to overseas supply chains, which could push up prices again and dampen economic activity. The high level of household debt and possibility of a ...
