The Organisation for Economic Cooperation and Development (OECD) has revised its growth forecasts for Switzerland downwards for the next two years due to a global economic slowdown. After a strong 2018 (+2.5%), gross domestic product (GDP) growth should slow in 2019 (+1%), the OECD said on Tuesday. This compares to its earlier forecast last November of +1.6%. The situation should improve in 2020 (+1.5%) as global trade recovers, the Paris-based policy forum said. Household consumption in Switzerland should gradually pick up (+1.2% and +1.5% for 2019 and 2020, respectively). Meanwhile, exports are expected to stagnate this year before recovering in 2020 (+3.4%). Price inflation should remain modest over the next two years, 0.5% and 0.7%, respectively, which are well below the Swiss National Bank objective of 2%. OECD said a lack of skilled workers, particularly in the technical, scientific and computer fields, remains a problem for Swiss-based companies and the number ...
