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2010.09.2005:48:00UTC+00Switzerland's KOF institute expects 2010 GDP growth at 2.7pct

News

Switzerland's KOF raised its growth forecasts for the Swiss economy for 2010 and 2011, predicting a moderate slowdown in 2011 as the strong Swiss franc was hitting exporters.
KOF sees 2010 GDP growth at 2.7pct vs previous forecast of 1.8pct.
The 2011 GDP growth is forecasted to be 1.8pct vs previous forecast of 1.6 pct.

Background

Last week, the Swiss National Bank warned against a marked economic slowdown next year, predicting growth of around 2.5 pct for 2010.

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