Swiss full year GDP growth forecast hiked to 2.6 pct from 2.4 pct previously

Sep 9, 2007 - Swiss GDP growth for 2007 has been hiked to 2.6 pct compared to an earlier forecast of 2.4 pct, the University of Zurich's centre for economic research (KOF) said in its latest survey of economists.

At 2.2 pct, GDP growth for 2008 is seen slowing down compared to 2007, but slightly higher than an earlier consensus of 2.1 pct.

KOF's latest forecast on full-year exports growth was hiked to 8 pct, from 6.4 pct earlier, but is seen weaker in 2008 at 5.4 pct.

The unemployment rate forecast for 2007 was cut to 2.8 pct, compared to 2.9 pct previously and is expected to fall further in 2008 at 2.5 pct.

Investment in the construction sector is expected to grow by 3.9 pct in the current year compared to an earlier forecast of 3.2 pct.

Construction growth for 2008 is seen higher at 2.7 pct versus 2.3 pct previously, but slower compared to 2007.