(RTTNews) - Switzerland's KOF economic institute raised the economy's growth forecast for next year to 1.9% from 1.8% projected in September. At the same time, the institute retained the growth estimate for this year at 2.7%.According to the institute's winter forecast released today, the debt crisis in Europe, associated with a strong Swiss currency, and weaker growth perspectives in the US will dampen Swiss GDP growth in the coming year.
However, growth in private consumption, exports and investments in construction as well as machinery and equipment is expected to support growth, KOF said. Unemployment is projected to fall, while prices are expected to rise moderately. Meanwhile, the growth projection for 2012 has been lowered to 2% from 2.2%.
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