The State Secretariat for Economic Affairs (SECO) released its forecasts for Switzerland today. Seco still expects the economic growth of 1.8% in 2014, but lowered its forecast for 2015 to 2.1% from 2.4% due to a slowdown of the economic growth in the Eurozone.

Seco forecasted the growth of 2.4% in 2016.

Unemployment rate is expected to fall to 3.2% this year, to 3% in 2015 and to 2.8% in 2016.

Seco warned that the sluggish recovery in Europe could have a negative impact on the economic growth in Switzerland.