Switzerland: Arduous march out of the economic valley

In Switzerland the economy performed more unfavourably than other Western European countries in 2004. The real gross domestic product declined by an estimated ¼%. On the labour market the situation deteriorated steadily. The unemployment rate increased to 3.7% for the year. Consumer prices increased insignificantly by 0.6%. In 2004 real GDP will presumably increase by 1¼%, and the unemployment rate could stand at 3¾% for the year. Consumer prices will increase by around ½%. In 2005 GDP will expand by some 2%. Employment will increase slightly, and prices will be about 1% above the level of the previous year.