The economy Economists survey: economy will only grow slowly in 2026
The Swiss economy will not get off the ground in 2026. This is the result of a survey of economic experts.
17.12.2025, 10:19
17.12.2025, 10:20
SDA
The economists surveyed as part of the KOF Consensus Forecast expect real gross domestic product (GDP, adjusted for sports) to grow by 1.0 percent in 2026, according to a press release issued on Wednesday. The forecast is therefore unchanged from the September survey and points to below-average growth.
Meanwhile, the forecast for 2025 is slightly higher at 1.3 percent instead of 1.2 percent. The difference between the growth rates for 2025 and 2026 has therefore widened slightly compared to the previous survey, according to the communiqué.
Some optimism
The consensus values for 2026 nevertheless indicate a certain optimism, it emphasizes. This is substantiated by higher forecast growth rates of 1.1% and 1.6% for equipment and construction investment respectively compared to 2025.
There is also a slight improvement in the outlook for foreign trade, which is likely to be related to the customs deal. Compared to the previous survey, participants expected a less pronounced decline in export momentum for 2026 compared to 2025, according to the KOF Institute.
The forecasts for inflation are now slightly lower. Average annual inflation of 0.4 percent is now expected for 2026 after 0.6 percent. The unemployment rate is expected to remain unchanged at 3.1%.
13 economists took part in the KOF Consensus Forecast. The survey was conducted from November 28 to December 10, 2025.
