28 September 2001, 13:59 Swiss FY GDP forecast cut to 1.72 pct vs 2.04 - economist consensus
ZURICH (AFX) - The Swiss business economists' consensus forecast
for the country's full year GDP was today cut to 1.72 pct versus an
earlier 2.04 pct estimate due to the economic downturn, fuelled by the
impact of the Sept 11 events, said the Swiss Society for Economics and
Statistics.
Next year's GDP growth forecast was also slashed, to 1.63 pct
against 2.19 pct as a significant export drop is forecast.
Exports should rise by a mere 2-3 pct against the average 5 pct
growth posted over the past five years, it said.
The projected full year inflation was cut to 1.24 pct against 1.78
pct, while the projected full year unemployment rate was raised to 1.8
pct against 1.76.
Eighteen institutions take part in the survey, including Credit
Suisse Group, Swiss Re, UBS AG, ZKB, the Swiss economics ministry and
the University of St Gallen.
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