Warten auf den Aufschwung

This text contains the autumn forecast 2014 of the KOF Swiss Economic Institute at ETH Zurich, released on 29 October 2014. The first part discusses recent economic developments in Switzerland and abroad, and presents the main forecast results across the various sectors of the economy. Subsequently, monetary policy and fiscal policy are analyzed. In the second part, detailed forecasts for Switzerland follow, split up into the main demand components of GDP. We expect the Swiss economy to grow by 1.7% in 2015 and 2.1% in 2016, representing a small downward revision. In particular the negative development in Europe is specified as a reason for this adjustment.