KOF Swiss Economic Institute upgrades its economic growth forecasts for Switzerland but downgrades its inflation forecasts

Market news

12 June 2015

KOF Swiss Economic Institute upgrades its economic growth forecasts for Switzerland but downgrades its inflation forecasts

The KOF Swiss Economic Institute Friday upgraded its economic growth forecasts for Switzerland but downgraded its inflation forecasts. The Swiss economy is expected to rise 0.4% in 2015, up from the March estimate of 0.2%. The economic growth in 2016 is expected to be 1.3%, up from the March estimate of 1.0%.

The strong Swiss franc and a slowdown in the global economy weighed on the Swiss economy.

The Swiss consumer price inflation is expected to decline 1.1% in 2015, down from the March estimate of -0.8%. The consumer price inflation in 2016 is expected to decline 0.3%, down from the March estimate of 0.0%.

U.S.: PPI, y/y, May -1.1% (forecast -1.1%)

Foreign exchange market. European session: the euro traded lower against the U.S. dollar on the uncertainty over the Greek debt talks and on the weaker-than-expected industrial production data from the Eurozone

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