Switzerland GDP Picks Up in Q4

Switzerland's economy grew by 0.4 percent in the December quarter of 2015, as compared to a revised 0.1 percent contraction reported in the previous quarter and beating market consensus. It is the strongest expansion since the fourth quarter of 2014, supported by household an public spending.

In the fourth quarter, household consumption grew by 0.1 percent, driven by healthcare sector, food and beverages sector and communication. Meanwhile, government expenditure increased by 0.6 percent.

Investment in equipment shrank by 0.9 percent (from +0.2 percent in the third quarter) while investment in construction rose 0.1 percent, the same as in the previous quarter.

Exports of goods (excluding non-monetary gold and valuables) increased by 2.9 percent (from a 0.5 percent growth in the third quarter). Positive contributions came from chemical and pharmaceutical products. The remaining categories, particularly sales of watches, jewelry and precision instruments, stagnated. Imports of goods (excluding non-monetary gold and valuables) rose 4.2 percent (after remaining flat in Q3). That brought foreign trade a negative contribution to the growth.

Year-on-year, the economy also expanded 0.4 percent, slowing from a 0.8 percent growth in the previous three months.

Considering full year 2015, GDP was provisionally calculated at 0.9 percent, as compared to a 1.9 percent expansion in the preceding year. 

Switzerland GDP Picks Up in Q4

Seco | Rida Husna | rida@tradingeconomics.com
3/2/2016 12:40:26 PM