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Swiss economic growth improves in Q2

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Staff Writer | September 5, 2017
The Swiss economy expanded at a faster pace in the second quarter on domestic demand, the State Secretariat for Economic Affairs said Tuesday.
Swiss economic growth
Switzerland   The State Secretariat for Economic Affairs said:
Gross domestic product climbed 0.3% sequentially, faster than the revised 0.1% rise in the first quarter.

Economists had forecast the quarterly growth rate to improve to 0.5% from first quarter's initially estimated expansion of 0.3%.

The expenditure-side breakdown of GDP showed that growth was driven by domestic demand. Private consumption gained 0.2% and government spending rose 0.3%.

Exports of goods grew 0.5%, while shipment of services fell 0.3%. At the same time, imports of goods advanced 5.5%, and that of services rose 1.7%.

Overall, the contribution of the trade balance in goods and services to GDP growth was negative.

Equipment and software investment moved up 0.3% and construction investment climbed 0.8%.

On the production side of GDP, both the industrial sectors and some service sectors contributed to growth in the the second quarter.

On a yearly basis, GDP growth halved to 0.3% in the second quarter from 0.6% in the previous quarter.

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