• Sun. Apr 21st, 2024

SNB reports Swiss economy showing modest improvement in first quarter, according to WSAU News/Talk 550 AM · 99.9 FM

BySamantha Johnson

Mar 27, 2024
SNB reports Swiss economy showing modest improvement in first quarter, according to WSAU News/Talk 550 AM · 99.9 FM

According to the Swiss National Bank, Switzerland’s economy performed slightly better in the first quarter of 2024 compared to the previous quarters. The central bank reported that many economic indicators suggest a more dynamic economic activity during this period.

During the final three months of 2023, the Swiss economy grew by 0.3% quarter-on-quarter. The SNB stated that the moderate economic growth in the first quarter of 2024 was mainly driven by the service sector, while manufacturing remained stagnant. Global demand in manufacturing continued to be weak, and companies were facing challenges due to the Swiss franc exchange rate.

Manufacturing companies mentioned that they had little room for pricing flexibility, putting pressure on their profit margins. The SNB recently cut its key interest rate for the first time in nine years and reported that the business outlook is improving. Service sector firms are expecting robust growth to continue, while manufacturing companies anticipate increases in sales.

By Samantha Johnson

As a content writer at newszkz.com, I delve into the realms of storytelling, blending words to paint vivid narratives that captivate and inform our readers. With a keen eye for detail and a passion for research, I craft compelling articles that resonate with our audience. My love for words drives me to explore diverse topics, ensuring that each piece I create not only educates but also entertains. Join me on this journey as we navigate the ever-evolving landscapes of news and knowledge together.

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