US: solid growth, higher inflation numbers, still easing wage pressure. Europe: Southern Europe currently outperforming within the monetary union. China: Strong growth in Q1, but ongoing weakness in real estate points to slowing momentum.

Chart of the month

graphic shows Forecast Inflation Switzerland 2023

Consensus Economics, the world’s leading provider of economic forecast evaluations, annually awards an award for the highest forecast accuracy. For 2023, Swiss Life Asset Managers is once again at the top of the podium of the Forecast Accuracy Award for Switzerland. The chart opposite shows the development of our inflation forecast for 2023 since January 2022: the inflation shock following Russia’s attack on Ukraine initially called for regular forecast revisions. From October 2022, however, our slightly lower expectation compared to the consensus forecast was almost spot on.

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