The Swiss economy, already one of the soundest in struggling Europe, grew by 0.5 percent in the second quarter, showed government figures released on Tuesday that were better than expected.
Switzerland’s economy, already the envy of the rest of Europe, is set to grow at an even faster pace than expected this year and next, according to the latest forecasts of September 2013.
Although the market for exports slowed markedly in 2012 due to unfavourable economic conditions, including the strength of the Swiss franc, the Expert Group expected to see economic growth of one per cent for the year 2012. This is lower than in 2010 (three per cent) and 2011 (1.9 per cent), but clearly not comparable to the economic turmoil currently being experienced by many European countries.
In Switzerland, sectors of the economy with a domestic focus, such as construction, public and private sector services, are benefiting from a continued influx of foreign workers and low interest rates.