Swiss 2006 GDP growth forecast raised to 2.9 pct from 2.7 pct

The Basel Economics Institute (BAK) raised its Swiss GDP growth forecast for 2006 to 2.9 pct from 2.7 pct in June, citing strong exports as well as domestic demand. Economists at the institute also hiked their growth forecast for 2007 to 2 pct from 1.8 pct, BAK said. BAK's revision comes after the Swiss state secretariat for economic affairs (SECO) and Credit Suisse both recently raised their forecasts for Swiss GDP growth.