Danger of recession!

The coming months will be difficult for the Swiss economy. After the strong growth of summer 2022, investment activity and foreign trade, will decline due to numerous negative factors. Recession can still be avoided. BAK Economics has revised down its Swiss GDP growth forecast for 2023 to 0.5 percent (previously +1.1 percent). Considering the extraordinary situation in European energy markets and the uncertainty about the course of the pandemic in winter, there is therefore a considerable risk of an even worse development, that is, up to a pronounced recession.