Swiss Economy Expands 0.5% QoQ in Q3

In the third quarter of 2013, Switzerland’s GDP growth was reported at 0.5 percent quarter-on-quarter, the same rate recorded in the previous three-month period. The growth was mainly driven by accelerating exports of goods and government spending.

In the third quarter, household final consumption expenditure increased 0.2 percent, down from 0.7 percent in the previous quarter. General government final consumption expenditure grew by 1.1 percent, up from 0.1 percent in the preceding three months.

Gross fixed investments reported a 0.4 percent increase, down from 1.4 percent in the previous quarter. The deceleration in investments was mainly due to a 0.1 percent decline in investments in capital goods, and a slight drop in investments in equipment. Most other categories of investments recorded a moderate growth.

The exports of goods advanced remarkably (+3.7 percent), following a 0.9 percent contraction in the previous quarter. Exports of pharmaceutical and chemical products contributed the most to growth, while sales of machinery and electronics, watches and other precision instruments, and metals also recorded an increase. Only vehicle exports declined slightly. Imports of goods rose 0.7 percent.

On the production side, the construction sector, the “insurance sections”, “real estate and housing”, scientific and technical and public administration also contributed to growth.

Year-on-year, the economy advanced 1.9 percent, down from 2.5 percent in the previous quarter.

Swiss Economy Expands 0.5% QoQ in Q3

Krisztina Györffy |
11/28/2013 9:32:48 AM