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Switzerland PPI inflation -0.24% m-o-m in Aug-23

- Switzerland's PPI inflation in August 2023 recorded a decline of 0.24% m-o-m, marking the lowest growth since May 2023.
- The current PPI inflation is 0.18 percentage points below the one-year average and 0.34 percentage points below the long-run average, indicating a deviation from recent and historical trends, respectively.

Switzerland unemployment rate 2.0% in Aug-23

- Switzerland's unemployment rate in August 2023 reached its highest level since March 2023, indicating potential labor market challenges.
- The rise in unemployment is accompanied by low consumer confidence, a contraction in manufacturing activity, declining retail sales, and slower-than-expected GDP growth.

Switzerland GDP 0.5% y-o-y in Q2-23

- Switzerland's GDP grew by 0.5% year-on-year in Q2-23, showing a slight improvement compared to the previous quarter.
- However, the growth rate is 0.55 percentage points below both the one-year average and the long-run average, indicating a slower recovery for the economy.

Switzerland GDP growth 0.02% q-o-q (consensus 0.1) in Q2-23

- Switzerland's Q2-23 GDP growth of 0.02% fell short of expectations, indicating a sluggish pace of economic expansion and the lowest growth since Q4-22.
- This subpar performance is reflected in the deviation of 0.26 percentage points from the one-year average and 0.42 percentage points below the long-run average, suggesting an overall weak economic environment.