Swiss KOF institute sees 2015 GDP at +0.4%

2016 +1.3%

• expects brief recession in Switzerland that will end in H2 2015

Says KOF

As in its forecast of March, KOF expects a brief recession in Switzerland that will be over in the second half of the year. Due to the strong Swiss franc and the relative weakness of the global economic development, GDP growth will remain low at 0.4%. In contrast, the economic situation in Europe is now looking better than it has for a long time. In the medium term, this will also give the Swiss economy a boost. GDP is expected to grow by 1.3 % in 2016

Full report here

USDCHF 0.9340 EURCHF 1.0480 with euro pressure driving it back down to 1.0470