ZURICH, Oct 12 — Swiss economic output will shrink by 3.8 per cent this year, a less bad coronavirus-triggered slump than previously expected, the State Secretariat for Economic Affairs (SECO) said today. The latest SECO forecast was an improvement from its June outlook when it said it expected...
Monday, 12 Oct 2020 03:22 PM MYT
ZURICH, Oct 12 — Swiss economic output will shrink by 3.8 per cent this year, a less bad coronavirus-triggered slump than previously expected, the State Secretariat for Economic Affairs said today. The easing of lockdown restrictions from the end of April helped a recovery, SECO said, although unemployment still remained higher than a year earlier.
The improving situation is expected to have continued into the third quarter, the government said, with some sectors like accommodation and restaurants being boosted by stay-at-home Swiss customers.
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