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Swiss gov't cuts 2017 economic growth outlook
September 21, 2017 / 6:49 AM / 2 months ago

Swiss gov't cuts 2017 economic growth outlook

ZURICH, Sept 21 (Reuters) - The Swiss government cut its outlook for 2017 economic growth in its latest forecast on Thursday, citing a weak start to the year.

The State Secretariat for Economic Affairs (SECO) said it expected economic growth of 0.9 percent in 2017, below the forecast of 1.4 percent it gave in June.

“The Swiss economy is only gradually returning to a dynamic growth path,” SECO said in a statement.

SECO forecast gross domestic product to expand 2 percent in 2018, compared to 1.9 percent previously.

Inflation was forecast to be 0.5 percent in 2017 and 0.2 percent in 2018, the same level as its earlier forecast.

Last week the Swiss National Bank trimmed its GDP forecasts, although the weaker currency let it raise its inflation outlook. (Reporting by John Revill)

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