Swiss GDP growth remained solid in Q1, but global economic slowdown poses a key downside risk, the central bank said.
Swiss National Bank governing board member Petra Tschudin stated economic activity in Switzerland remains resilient, supported by solid GDP growth in the first quarter. Corporate discussions indicate sustained momentum, though unemployment has edged higher recently.
The SNB highlighted global economic developments as the primary risk to Switzerland’s outlook. A moderate global slowdown is expected to weigh on Swiss growth in the coming quarters, though medium-term prospects remain positive. The central bank also warned of potential renewed upward pressure on the Swiss franc.
No immediate market reaction was specified in the assessment.