Are you sure?

Swiss gov’t f’casts worse economic recession in 2009

  The Swiss economy could shrink by 2.2% in 2009, worse than previously expected, a government agency said on Tuesday.

The State Secretariat for Economic Affairs (Seco) said it had adjusted its previous prediction that the gross domestic product would decline by 0.8%, the official Swissinfo news website reported.

Unemployment, which rose to 3.4% in February, is expected to increase to 3.8% in 2009 as a whole and to 5.2% in 2010, according to the agency.

“The outlook of the global economy, already gloomy at the end of last year, has once again deteriorated considerably since the start of 2009,” Seco said in a statement. (Xinhua)