SWITZERLAND

摘要

1. Asa small, open economy Switzerland is particularly vulnerable to weakening global growth, especially in Europe. However, helped by a dynamic export sector, external demand has so far remained robust despite the current slowdown. 2. Consequently, Switzerland is one of the few countries whose GDP forecasts have not been downgraded this month, with a respectable 2.0% outturn predicted by our panel this year. This is supported by the continued availability of credit, while employment growth and the housing market have held up.