Real and nominal GDP rates of change (in %, adjusted for sporting events and calendar effects)
Development of economic output
Sources:
2019–2023: State Secretariat for Economic Affairs (SECO)
2024–2025: Estimates of the economic forecasts expert group of June 17, 2024
2026–2028: Forecasts according to the
In 2024, the Swiss economy grew by 0.9% in real terms and 2.2% in nominal terms, which means that economic growth was less vigorous than expected in the budget. Despite monetary policy easing and falling inflation rates worldwide, the challenging international environment weighed on investments and the Swiss export sector. Growth was driven primarily by consumer spending. Declining inflation and population growth bolstered household consumer demand. By contrast, investment in equipment remained subdued, as the manufacturing sector struggled with lackluster order books and low capacity utilization. Only construction experienced a certain recovery from a low level.
The number of unemployed rose during the course of 2024. Coming in at 2.4% (2023: 2.0%), the unemployment rate was up on the previous year in all sectors.
The average annual rate of inflation returned to the target range of the Swiss National Bank (SNB). According to the National Consumer Price Index, inflation stood at 1.1% in 2024 (2023: 2.1%). The decline in inflation was mainly due to lower prices for petroleum products and other imported goods, as well as the appreciation of the Swiss franc. The SNB responded to the decrease in inflation by lowering its policy rate in four steps, bringing it from 1.75% to 0.5%. The US Federal Reserve and the European Central Bank likewise cut their interest rates.
Data
Detailed data for longer periods are available under the following links:
- Link data portal
- Link Open Government Data
Downloads
Last modification 13.05.2025