UBS confirms its growth forecasts for Switzerland

UBS economists have confirmed their growth forecasts for Switzerland following the announcement of new US tariffs. UBS economists still forecast growth in gross domestic product (GDP), adjusted for sporting events, of 0.7% this year and 1.4% year. Whilst these new tariffs will certainly undermine the competitiveness of Swiss exporters in the US market, they will not do so to an extent likely to weigh heavily on the Swiss economy, Switzerland’s leading bank said in a statement on Friday.…