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Swiss Q1 GDP growth steady at 0.6%

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Staff Writer | May 31, 2018
Switzerland's economy expanded at a steady pace in the first quarter, the State Secretariat for Economic Affairs reported Thursday.
Switzerland factory
Switzerland   Gross domestic product expanded 0.6% quarter-on-quarter
Gross domestic product expanded 0.6% quarter-on-quarter, the same pace of increase as seen in the fourth quarter.

Year-on-year, GDP growth accelerated to 2.2% from 1.9% a quarter ago.

The expenditure-side breakdown of GDP showed that household consumption climbed 0.4%, while government spending dropped 0.3%.

Equipment and software investment rebounded 3.6%. Meanwhile, construction investment dropped 0.4%.

Exports of goods excluding valuables grew 2% and exports of services moved up 0.9%. Imports of goods excluding valuables increased 2.9% and that of services rose 0.8%.