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Swiss government says it expects economic slowdown but no recession
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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.
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)
Gross Domestic Product (GDP) is the total monetary value of all goods and services produced within a country's borders in a specific time period, used as a broad measure of overall economic activity.
Economic growth refers to an increase in the production of goods and services in an economy over a period of time, typically measured by the rise in GDP.
Financial stability is a condition where the financial system operates effectively, allowing for the smooth functioning of financial markets, institutions, and the economy without excessive volatility.
Monetary policy is the process by which a central bank manages the supply of money, interest rates, and inflation to achieve macroeconomic objectives such as controlling inflation and stabilizing currency.
European economies refer to the economies of the countries within Europe, which can vary significantly in terms of size, structure, and economic performance, often influenced by the European Union's policies.
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