The KOF Swiss Economic Institute Friday upgraded its economic growth forecasts for Switzerland but downgraded its inflation forecasts. The Swiss economy is expected to rise 0.4% in 2015, up from the March estimate of 0.2%. The economic growth in 2016 is expected to be 1.3%, up from the March estimate of 1.0%.
The strong Swiss franc and a slowdown in the global economy weighed on the Swiss economy.
The Swiss consumer price inflation is expected to decline 1.1% in 2015, down from the March estimate of -0.8%. The consumer price inflation in 2016 is expected to decline 0.3%, down from the March estimate of 0.0%.