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Swiss government cuts economic growth forecasts for 2014, 2015
June 17, 2014 / 6:12 AM / 3 years ago

Swiss government cuts economic growth forecasts for 2014, 2015

ZURICH, June 17 (Reuters) - The Swiss government cut its economic growth forecasts for this year and next on Tuesday, citing a sluggish outlook for exports.

“(We) continue to expect the economic upturn to strengthen up to 2015,” economists at the State Secretariat for Economics (SECO) said. “However, the economic recovery may be somewhat slower than was forecast in March due to lagging exports.”

The SECO trimmed its growth forecast to 2.0 percent for 2014 from a previous 2.2 percent and cut its outlook for 2015 to 2.6 percent from the 2.7 percent it predicted in March.

It forecast consumer prices to rise by 0.1 percent this year, unchanged from the prediction it made in March, and saw inflation of 0.4 percent next year. (Reporting by Alice Baghdjian; Editing by Hugh Lawson)

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