Economists have predicted that the Swiss economy is likely to pick up substantially in 2002.
According to a forecast by independent economic reseach institute, Basel Economic Ltd (BAK), the economy is set to pick up in the second half of the year, with the upturn generated mainly by consumer spending and corporate investment.
BAK has predicted that real GDP will grow by around 1.3% in 2002. The research institute also revealed that if the global economy recovers sufficiently, the long-term outlook for Switzerland is also good, and predicted a provisional 2.5% growth in GDP for 2003.
However, it seems that there is a cloud to every silver lining- on Thursday, economic researchers at the Federal Institute of technology warned that the country's economic situation is due to take a nose-dive soon, hitting rock bottom in the first quarter of this year.
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