14 Dec 2011

Swiss forecast cut

12:22 pm on 14 December 2011

The Swiss government has cut its growth forecast for 2012, blaming the economy's exposure to the eurozone crisis.

The expected growth rate was lowered to 0.5% from 0.9%.

Switzerland is not expected to suffer a recession, provided the eurozone crisis does not worsen.

But recession and deflation remain a concern.