Swiss Economy To See Moderate Recovery In 2010: SECO

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6:08 GMT

Sep 2009

Swiss Economy To See Moderate Recovery In 2010: SECO

(RTTNews) - Tuesday, the State Secretariat for Economic Affairs said the Swiss economy is stabilizing and expects a weak GDP growth next year.

The economy is forecast to shrink 1.7% during 2009, better than the 2.7% decline expected in June. The expert group of the Federal Government expects a moderate GDP growth of 0.4% next year compared to the previous estimate of 0.4% fall.

Further, the SECO said the prospects for the labor market remain bleak. Employment is likely to fall in the coming quarters and would not start to increase slightly before late 2010.

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Posted in Categories: Economy, Releases, Switzerland.

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