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Swiss government says it expects economic slowdown but no recession

Published by Uma Rajagopal

Posted on February 28, 2023

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ZURICH (Reuters) – The Swiss economy is expected to slow this year but will not slide into a recession, the government said on Tuesday, after it reported zero growth at the end of 2022.

“From the current perspective I would not expect a recession,” Eric Scheidegger, the Head of the Economic Policy Directorate at the State Secretariat for Economic Affairs, told reporters.

He cited the mild winter, which had helped Europe avoid an energy crisis, and recent data on economic activity which he said was encouraging.

(Reporting by John Revill; Editing by Andrew Heavens)