Swiss government says strong Q1 GDP figures do not mean automatic upgrade of annual forecasts

Switzerland's government economist comments after the earlier report

Switzerland
  • The general environment remains the same
  • Q1 growth was helped by positive one-off factors
  • The negative factors affecting the economy are still present
  • That includes trade war, Brexit, German economic slowdown

It's pretty much similar commentary/remarks to euro area economies in Q1 as well. Although the GDP reports may indicate slightly better economic conditions from the end of last year, the general outlook remains cloudy with plenty of tailwinds still persisting.

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