LAUSANNE, SWITZERLAND – The outlook for the Swiss economy is weaker, as the European slowdown finally catches up with it, the new quarterly assessment from Crea at the University of Lausanne shows. The macroeconomic institute offers a gloomy forecast, noting that as long as the US debt remains high and sovereign debt problems remain in Europe, the global economy will not pick up.
Its quarterly index has been adjusted downwards, by 0.7 percent, for the fourth quarter and industrial production projections show a downturn there.
Exports remain strong despite the Swiss franc but there are signs of weakening here, too. Growth is currently kept buoyant by the internal market, in part thanks to a construction industry that remains strong, with continuing low interest rates.