Switzerland GDP Stalls in Q3
Switzerland's economy showed no growth on the quarter from July to September, following a 0.6 percent expansion in the previous three months and missing market consensus of a 0.3 percent growth. While domestic demand and investment grew, government expenditure shrank and the net trade balance contributed negatively as imports rose and exports declined.
Year-on-year, the economy expanded 1.3 percent, slowing from a 2.0 percent growth in the June quarter and below consensus of a 1.8 percent growth.
In the third quarter, household consumption rose 0.1 percent, after remaining unchanged in the previous quarter. In contrast, government expenditure shrank 0.1 percent, swinging from a 1.7 percent expansion in the preceding three months.
Investment in equipment increased by 0.5 percent, compared to a 0.9 percent decline in the June quarter, driven primarily by research and development as well as machinery. Investment in construction also expanded 0.5 percent, after falling 0.2 percent previously.
Exports of goods (excluding non-monetary gold and valuables) decreased by 0.2 percent, the same pace as in the preceding quarter. Sales fell for precision instrumens, watches and jewellery. In contrast, positive contributions came from chemicals and pharmaceuticals. Imports of goods (excluding non-monetary gold and valuables) rose 0.2 percent, slowing from a 0.5 percent increase in the June quarter.
12/2/2016 8:24:37 AM