Swiss industry warns that strong franc is weighing on outlook for 2024 ...Middle East

The group says that the outlook for this year is rather uncertain. And considering the still overvalued Swiss franc, it could lead to a further decline in exports amid a slowdown in economic conditions abroad. For some context, manufacturing still contributes to a decent chunk of the Swiss economy - around 22% of its GDP. And roughly 3/4 of Swiss-made products are manufactured to be shipped abroad. The industry group says that:"The situation is very precarious. The Swiss franc remains overvalued by around 5% against the euro compared with purchasing power parity. Another appreciation surge or political shock could quickly exacerbate the downward spiral." This article was wri

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