• Sun. May 26th, 2024

Switzerland’s Economy Thrives in Q1 2024 Amidst Concerns for Manufacturing Sector

BySamantha Nguyen

Mar 27, 2024
SNB reports Swiss economy probably grew slightly in the first quarter

In the first quarter of 2024, Switzerland’s economy likely showed slightly better performance compared to previous quarters, according to the Swiss National Bank. The central bank stated in a report that many economic indicators suggest that economic activity was more dynamic during this period.

During the final three months of 2023, the Swiss economy grew by 0.3% quarter-on-quarter. Manufacturing remained stagnant, while the service sector drove moderate economic growth. Weak global demand and challenges related to the Swiss franc exchange rate were cited as concerns for manufacturing companies.

The SNB recently cut its key interest rate for the first time in nine years and mentioned that the business outlook is improving. Service sector firms are expecting robust growth to continue, while manufacturing companies anticipate sales increases in the future due to pressure on their margins caused by lack of pricing latitude.

By Samantha Nguyen

As a content writer at newsqwe.com, I am passionate about crafting engaging and informative articles that captivate our audience. With a background in journalism and a keen eye for detail, I strive to deliver content that is not only well-researched but also adds value to our readers' lives. From breaking news stories to in-depth features, I take pride in my ability to tell compelling stories that resonate with our diverse audience. When I'm not typing away at my keyboard, you can find me exploring new cafes, practicing yoga, or getting lost in a good book. I am thrilled to be a part of the newsqwe.com team and look forward to sharing my love for writing with all of our readers.

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