The economy Raiffeisen economists anticipate moderate economic growth
The Swiss economy will remain on course for moderate growth in 2026. According to the forecast by Raiffeisen economists, gross domestic product (GDP) will increase by 1.0% next year.
02.12.2025, 10:06
SDA
This is because the easing on the customs front does not mean that the export sector will immediately take off again, the bank said in a communiqué on Tuesday. The burden of a "punitive tariff" of 15 percent remains high. In addition, the strong Swiss franc and high electricity prices, as well as weak demand from Europe are slowing down industry.
However, domestic demand is proving to be a pillar of the economy. Private consumption is benefiting from immigration and higher real wages. At the same time, inflation is likely to remain low at an expected 0.5 percent. The Swiss National Bank (SNB) will therefore leave the key interest rate unchanged at 0.0% for the entire year, according to Raiffeisen.
Meanwhile, the situation on the labour market has stabilized. Although the unemployment rate has risen in recent years, it is expected to remain moderate at below 3.5 percent. According to the Raiffeisen economists, job cuts in industry are likely to slow down following the customs agreement.
"Despite headwinds, the Swiss economy remains stable and no major setbacks are to be expected," summarizes chief economist Fredy Hasenmaile.
