Swiss Government Cuts 2005 Growth Forecast Amid Export Slowdown

Jan. 28 (Bloomberg) -- The Swiss government lowered its forecast for 2005 growth for the second time in three months as a slowdown in Europe and a rising franc threaten to erode exports.

Gross domestic product will probably expand 1.5 percent this year, down from the 2 percent predicted on Oct. 19, the State Secretariat for Economic Affairs in Bern, Switzerland, said in a faxed statement today. The economy is expected to grow 1.8 percent in 2006.