Swiss government out with new forecasts
- Sees 2020 jobless rate at 3.9% and 2021 at 4.1%
- Sees economy rebounding 5.2% in 2021 vs -3.3% previously
- Sees ‘significantly greater risk’ of pressure on the franc
Forecasting is a fool’s game right now. There was hardly an economist in the world that was remotely close to the PMI numbers in Europe that were just released. That said, there’s this strong consensus among economists about big bounces in 2021 and a strong consensus from scientists that COVID-19 isn’t going away next year. That’s tough to square.