Swiss economic growth turned out disappointingly weak in the second half of 2016. However, the leading indicators are pointing to a clear upward trend in early 2017 and the global economy is sending out positive signals.

The Federal Government's Expert Group is therefore expecting growth in gross domestic product (GDP) to accelerate to +1.6% in 2017 (previously +1.8%) and to +1.9% in 2018 (unchanged), underpinned by domestic demand in particular. The Group also expects the job market to benefit from the economic recovery, anticipating, as before, that unemployment will drop to 3.2% in 2017 and 3.1% in 2018.