Swiss economy seen tipping into recession on Covid-19 pandemic shutdowns


The median forecast was for a 0.7 per cent drop in gross domestic product in the final quarter of 2020

Europe | Recession | Swiss banks


Switzerland is sinking into because of business closures to combat the pandemic, according to economists surveyed by Bloomberg.

While the nation has less-stringent rules on social distancing than neighbouring countries, shops, restaurants and leisure facilities are still closed at least until the end of February.

The median forecast was for a 0.7 per cent drop in gross domestic product in the final quarter of 2020, and a further contraction of 0.6 per cent in the first three months of 2021.

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First Published: Sat, February 13 2021. 01:23 IST


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