Swiss GDP Unexpectedly Stagnates in Q3

Switzerland's economy unexpectedly showed no growth in the September quarter of 2015, as compared to a 0.2 percent expansion reported in the previous quarter. The results missed market expectations as stronger consumption growth was not enough to offset lower investment and weak exports.

Household consumption expanded by 0.4 percent quarter-on-quarter (0.3 percent in Q2). The largest contributions to the growth came from health, transport, housing and energy. In contrast, expenditures for clothing and footwear fell. Meanwhile, government final consumption rose by 1.8 percent (-0.1 percent in Q2)

Investment in equipment rose by 0.2 percent (1.5 percent in Q2) while investment in construction declined by 0.9 percent (-0.8 percent in Q2).

Exports of goods (excluding non-monetary gold and valuables) increased by 0.5 percent (0.8 percent in Q2). Positive contributions came from chemical and pharmaceutical products. The remaining categories were mostly declining, particularly sales of watches, jewelry and precision instruments. Imports of goods (excluding non-monetary gold and valuables) were flat (-3.2 percent in Q2).

Year-on-year, the economy grew 0.8 percent, slightly slowing from a downwardly revised 0.9 percent expansion in the June quarter.

Swiss GDP Unexpectedly Stagnates in Q3

SECO l Rida Husna |
12/1/2015 12:44:16 PM