The closely related error of financial analysts was to fail to recognize the sharp downward trend in interest rates. Interestingly, the economists of Credit Suisse overestimated the trend of Swiss gross domestic product much less than that of the USA and the Eurozone, for example. One possible explanation is that our economists simply perform better with their forecasts for Switzerland thanks to their proximity to the subject at issue. But why have forecasters, including the local experts, overestimated growth in places such as the USA and the Eurozone so much more?
In this issue of Monitor Switzerland we present the fall forecast for the Swiss economy and analyze the global environment.
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