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Surveys confirm that Swiss economy is still growing but at slower rate

Switzerland's economy is continuing to expand though at a slower rate than last year, according to two surveys released on Wednesday.

This content was published on May 30, 2001 - 14:29

The independent company, Basel Economics, said it expected Swiss gross domestic product to rise 2.2 per cent in 2001, while the Institute for Business Cycle Research puts the figure at 2.0 per cent.

This compares to a growth rate of more than three per cent for the previous year.

Basel Economics reported that the economic climate remained good with inflation under control and unemployment at its lowest level for more than a decade. It said, however, there was little more scope for the jobless rate to decline and expected it to stabilise around 1.7 per cent.

The company expects exports to expand by 5.7 per cent for the year as a whole and private consumption to go up by 1.8 per cent.

The Business Cycle Research Institute also found that growth was slowing particularly in the industrial and construction sectors. It said the trading and consumer sectors were still positive.

swissinfo with agencies

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