(RTTNews) - Friday, the Zurich-based think-tank KOF said it expects the Swiss economy to shrink 3.4% this year compared to June’s forecast of 3.3% decline.

The current stagnation will begin giving way to a slow recovery in mid-2010. The institute sees only a small growth of 0.1% next year. In 2011, GDP growth will reach 1.4% compared to the previous year, the think-tank said.

According to KOF, consumer prices will fall 0.4% in 2009 due to the oil price collapse in the second half of 2008 and inflation in the coming year will hit 0.5%.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2009 RTTNews.com, Inc. All Rights Reserved

Posted in Categories: Economy, Releases, Switzerland.

Subscribe by RSS Subscribe by Email