The Swiss government significantly cut its economic growth forecasts on Tuesday, citing growing risks from a 'tense energy situation and sharp price increases'.
Shoppers walk along the street after the Swiss government relaxed some of its COVID-19 restrictions, as the spread of the coronavirus disease continues, at the Bahnhofstrasse shopping street in Zurich, Switzerland March 1, 2021. REUTERS/Arnd Wiegmann/File PhotoZURICH, Sept 20 - The Swiss government significantly cut its economic growth forecasts on Tuesday, citing growing risks from a "tense energy situation and sharp price increases".
"After a positive first half of the year 2022, the Swiss economy now faces a deteriorating outlook," SECO said. "A tense energy situation and sharp price increases are weighing on economic prospects, especially in Europe." SECO said a favourable unemployment situation in Switzerland, with an expected jobless rate of 2.2% this year and 2.3% next, would continue to support domestic demand.
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