The State Secretariat for Economics (SECO) lowered its growth forecasts for Switzerland to 1.8% from 2.0% for 2014 and to 2.4% from 2.6% for 2015. The cut was caused by the slowdown in Europe.

Disappointing German economic data weighed on the forecasts cut by SECO. Germany is Switzerland's main trading partner.

SECO forecasted that consumer prices in Switzerland would increase by 0.1% in 2014. The Swiss inflation is expected to be 0.4% next year. Both figures remained unchanged from its June forecasts.