Swiss Life Asset Managers has won the Consensus Economics Forecast Accuracy Award for Switzerland for the fifth time. The award honours the best GDP and inflation forecasts every year.
Consensus Economics, the world’s leading macroeconomic forecast survey firm, today announced the winners of the 2022 Forecast Accuracy Awards. Each year, this firm selects the best forecasts for GDP growth and inflation. Swiss Life Asset Managers has been honoured with the award for the best GDP and inflation forecast for Switzerland for the fifth time in eight years. For its evaluation, Consensus Economics compares the estimates from around 20 participating institutes.
2022 GDP Switzerland growth forecast and actual result
Marc Brütsch, Chef Economist, Swiss Life Asset Managers, says: “We are delighted to receive this award again. Looking back on the challenging year 2022 shows that our processes for estimating GDP growth for Switzerland are working.” This was already evident in 2015 and 2020, when the last two major external shocks hit the economy with the SNB decision on the exchange rate floor against the euro and the onset of the coronavirus pandemic. “Although we too – until the first quarter of 2023 – did not expect inflation to reach the level that it did, thus affecting large parts of the global economy, in 2021 we already expected inflation figures higher than the consensus forecast in the wake of the pandemic. Since September 2022, our forecast anticipated the actual result fairly accurately.”
2022 inflation Switzerland growth forecast and actual result
Outlook for 2023
Swiss Life Asset Managers expects Switzerland's real gross GDP product to grow by 0.7% in 2023. Inflation is likely to have already peaked in the US, the eurozone and Switzerland. Swiss Life Asset Managers is forecasting an average inflation rate of 2.3% for Switzerland.