• Sat. May 18th, 2024

Switzerland’s Economy Showed Slightly Better Performance in Q1 2024: SNB Report

BySamantha Jones

Mar 27, 2024
SNB reports Swiss economy probably grew slightly in the first quarter

According to a recent report by the Swiss National Bank, Switzerland’s economy likely showed slightly better performance in the first quarter of 2024 compared to previous quarters. The central bank cited many economic indicators that suggest economic activity was more dynamic during this period.

In the final three months of 2023, the Swiss economy grew by 0.3% quarter-on-quarter. The SNB noted that moderate economic growth in the first quarter was mainly driven by the service sector, while manufacturing remained stagnant. Weak global demand and challenges related to the Swiss franc exchange rate were cited as concerns for manufacturing companies.

Manufacturers are facing pressure on their margins due to the lack of pricing latitude. In response to this challenge, the SNB recently cut its key interest rate for the first time in nine years and mentioned that the business outlook is improving. Service sector firms are expecting robust growth to continue, while manufacturing companies anticipate sales increases in the future.

By Samantha Jones

As a dedicated content writer at newszxcv.com, I bring a passion for storytelling and a keen eye for detail to every piece I create. With a background in journalism and a love for crafting engaging narratives, I strive to deliver informative and captivating content that resonates with our readers. Whether I'm covering breaking news or delving into in-depth features, my goal is to inform, entertain, and inspire through the power of words. Join me on this journey as we explore the ever-evolving world of news together.

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