To just 3.2 percent real growth
The second corona wave will weigh on the Swiss economy in the winter half of 2020/21. The government economists have therefore adjusted their forecast for growth in the coming year downwards. Specifically, the federal group of experts still expects real gross domestic product (GDP) to grow by 3.2 percent in 2021 compared to the previous year, as the State Secretariat for Economic Affairs (Seco) announced on Tuesday.
In the last official forecast in October, the federal economists had assumed an increase of 4.2 percent.
If the epidemiological situation relaxes, growth should pick up significantly in the course of 2021, according to Seco. However, the uncertainty remains extremely high.
GDP looks a little better this year than in the last forecast. The Seco is now expecting a slump of 3.3 percent – in October the Seco was still assuming a minus of 3.8 percent. Shortly after the lockdown in the spring, a much sharper cut was expected. At the end of April, for example, while the lockdown was still in place, the Seco forecast a 6.7 percent decline in GDP.
For the first time, Seco has now dared to make a forecast for 2022. Then GDP growth is seen at 3.3 percent.
