Switzerland Economic Forecast: GDP Growth, Inflation & Unemployment – KOF Survey 2026-2027

Zurich – Switzerland’s economy is forecast to grow by 1.0% in 2026, according to a consensus forecast released Monday by the KOF Swiss Economic Institute at ETH Zurich. The same group of economists projects a slightly stronger expansion of 1.5% for 2027.

The predictions, compiled from a survey of 16 economists, remain unchanged from the previous assessment in December, despite ongoing geopolitical uncertainties. The KOF institute noted the stability in forecasts across various economic indicators.

Inflation is expected to remain moderate, with a projected average rate of 0.4% for 2026, rising to 0.6% in 2027 and 0.9% over a five-year horizon. The labor market is anticipated to remain relatively stable, with an average unemployment rate of 3.1%.

The forecasts also indicate a positive outlook for Switzerland’s external trade. Economists predict a 1.0% increase in exports for 2026, accelerating to 2.6% in 2027. Investment in equipment is expected to rise by 1.0%, while construction investment is projected to increase by 1.7%, a slight upward revision from December’s predictions.

The Swiss franc is expected to appreciate modestly against both the euro and the dollar. The KOF consensus forecasts an exchange rate of 0.91 EUR/CHF over the next three months, moving to 0.90 EUR/CHF over the next twelve months. Against the dollar, the franc is predicted to trade at 0.77 USD/CHF in three months and 0.76 USD/CHF in twelve months.

The KOF survey was conducted between February 27th and March 18th, 2026.