BAKBasel positive over 2017 economy

Experts at the BAK Basel economic forecasting body have raised their economic forecast for Switzerland in 2017: They now see a growth in Growth Domestic Product of 2%, rather than their previous estimate of 1.7%. The upswing is linked to exports and investments, BAKBasel said in a statement on Friday. From 2018 private consumption will provide a boost as well. “After the exceptional situation in the years since 2009, this prognosis is once again showing a stronger development towards a typical economic cycle structure,” it said, referring to the global financial crisis that has also affected Switzerland. Overall, the Swiss economy should grow more strongly than that of the eurozone over the next two years. There are “excellent prospects for 2017”, it said. The forecast for 2018 is for more than 2% growth in GDP. BAKBasel’s prediction is more positive than other economic forecasters. The big banks UBS and Credit Suisse have put growth for next year at 1.3% and ...