Swiss Economy Bounces Back in Q1 2024: Business Outlook Improving, Manufacturing Companies Face Pressure

Swiss economy expected to show modest improvement in first quarter, according to SNB

In the first quarter of 2024, Switzerland’s economy likely performed better than in previous quarters, according to the Swiss National Bank (SNB). The central bank stated that many economic indicators showed increased dynamism during this period. Despite this, the manufacturing sector remained stagnant, with companies facing challenges due to weak global demand and the Swiss franc exchange rate. With limited pricing flexibility, these companies experienced pressure on their profit margins.

The SNB cut interest rates for the first time in nine years and mentioned an improving business outlook. Service sector firms expect continued strong growth, while manufacturing companies anticipate an increase in sales. The central bank believes that despite these challenges, the overall economic situation is showing signs of improvement.

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