According to KOF surveys, the business situation of Swiss companies has stabilised in the past few months. The decline in demand has stopped and companies are expecting a slight recovery in the next few months. Business expectations are less sceptical than at the beginning of the year. The Swiss economy is regaining its footing.
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By and large, the Swiss economy survived the most recent economic dip relatively unscathed, even though the traces left on the GDP growth rates are quite visible. For 2012, the KOF is expecting a yearly average growth rate of 0.8%. This figure does conceal an accelerating economic momentum towards the end of the year. Private consumption will make the biggest contribution to growth. Exports will come out weaker due to the effects of the strong franc and stagnation in Europe. The labour market looks robust, unemployment figures will remain at 3.2%, a very low level by international standards.
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