In the first quarter of 2024, the Swiss economy showed signs of improvement compared to previous quarters, according to data from the Swiss National Bank. The Central Bank announced that many economic indicators point to more dynamic economic activity during this period.

Despite moderate growth in the first quarter, production remained stagnant, while the service sector drove much of the growth. Global manufacturing demand remains weak, and companies have been struggling with the Swiss franc’s exchange rate.

Manufacturing companies reported little room for price flexibility, which put pressure on their profit margins. In response to these challenges, the SNB recently cut its key interest rate for the first time in nine years and reported an improving business outlook. Firms from the service sector expect continued strong growth, while manufacturing companies anticipate an increase in sales.

By Samantha Johnson

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