Benchmark
The Price of a Rising Swiss Franc: Recession
We surveyed economists on Swiss growth, here are the results.
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Switzerland is paying the price for letting its exchange rate soar.
Three months since ending a cap on the franc, the country is now suffering from its biggest decline in output since the 2008-2009 financial crisis as exports slump, according to a survey of economists.
Swiss gross domestic product contracted 0.1 percent in the first three months of the year and will shrink another 0.2 percent in the current quarter, according to a poll of 12 economists by Bloomberg. That would be the first recession in more than five years.