Swiss government’s Expert Group upgraded GDP growth forecast for 2021 to 3.6% (from March’s 3.0%), as “easing of coronavirus measures has triggered a swift recovery in the domestic economy”. That also means, GDP would climb “well above the pre-crisis level” in H2. Unemployment rate is expected to come to an annual average of 3.1% (March forecast at 3.3%).
For 2022, The Expert Group expect another year of “above-average growth” at 3.3% (unchanged forecast”. It added that foreign trade is set to “stimulate growth substantially again” while services trade such as tourism is “likely to gather pace”. Unemployment rate is expected to drop further to an annual average of 2.8% (March forecast 3.0%).