Economists expect the Swiss economy to shrink by 2.2 percent in 2009 before returning to minimal growth next year, a survey showed on Wednesday, taking a slightly less pessimistic view on the economy than so far.
The consensus forecast among 26 economists from Swiss research institutes, banks and companies showed that economists saw the economy growing by 0.4 percent in 2010, according to the KOF Swiss Economic Institute, which compiles the survey.
Both figures are above June's consensus of a 2.5 percent drop in gross domestic product in 2009 and a 0.1 percent rise for 2010, though the forecast drop for 2009 would be still the sharpest decline of the Swiss economy since 1975.
The Swiss National Bank, which will publish updated forecasts at its next policy meeting on September 17, said in June it expected a decline in GDP by 2.5 to 3.0 percent. However, signs have been mounting since that the economy may be about to move out of its worst recession in decade and many economists expect the central bank to revise its forecasts up.
But SNB board member Thomas Jordan warned two weeks ago the recovery could take time and it was too early to take back the unorthodox measures the SNB has taken to boost the economy.
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