Switzerland's seasonally adjusted unemployment rate increased 3.1% in May from 3% a month ago, according to data from the State Secretariat for Economic Affairs published Thursday.
At the end of May, 144,652 individuals were registered as unemployed, up by 2,583 from a month ago.
The Organisation for Economic Co-operation and Development (OECD) trimmed the Philippines' real GDP growth outlook to 3.2% in 2026 from the 5.1% projection in December 2025.The growth forecast for 2027 was also cut to 5% from 5.8% previously due to weaker household demand and higher inflation, according to a Thursday report.The OECD said private consumption is expected to soften as rising energy prices and weaker labour market conditions weigh on real incomes.Inflation is projected to rise further due to higher energy costs and peso depreciation, while the current account deficit is expected to widen, it said.The organization also said the Philippines, as a net energy importer, remains vulnerable to global energy price shocks and geopolitical tensions in the Middle East.The country's monetary policy is expected to tighten in 2026, while fiscal policy will remain expansionary in the near term due to energy-related support measures, OECD said.The public investment is expected to recover gradually after weakening in late 2025, though risks remain tilted to the downside, according to the report.
Switzerland's annual inflation rate stood at 0.6% in May, unchanged from the previous month, according to data from the country's Federal Statistical Office published Thursday.The consensus estimate for the month was 0.8%.On a monthly basis, consumer prices were 0.2% higher, compared with the prior and expected 0.3% gain.
China criticized an OECD report that claimed the country had an unfair advantage when it comes to state subsidies.The report from the OECD, or the Organisation for Economic Cooperation and Development, said Beijing's support for Chinese firms across 15 key industries was three to eight times higher than the support levels found within OECD member nations.During a Thursday press conference, a spokesperson from the Ministry of Commerce said the report lacked "unified measurement standards" and is biased, one-sided, and arbitrary."China's industrial subsidy policies strictly adhere to WTO rules and earnestly fulfill its transparency obligations," the spokesperson said.