The Swiss economy advanced 0.6 percent on quarter in the three months to March 2019, twice faster than an upwardly revised 0.3 percent growth in the previous quarter and beating market expectations of a 0.4 percent expansion. It was the second straight quarterly expansion, as household consumption growth accelerated and there was a rebound in both construction spending and investment in equipment and software. Also, net foreign demand contributed positively to the GDP growth. Year-on-year, the GDP grew by 1.7 percent in the first quarter, accelerating from an upwardly revised 1.5 expansion in the previous quarter and also beating market forecasts of a 1 percent advance. GDP Growth Rate in Switzerland averaged 0.44 percent from 1980 until 2019, reaching an all time high of 2.40 percent in the fourth quarter of 1999 and a record low of -1.90 percent in the fourth quarter of 2008.

GDP Growth Rate in Switzerland is expected to be 0.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Switzerland to stand at 0.40 in 12 months time. In the long-term, the Switzerland GDP Growth Rate is projected to trend around 0.50 percent in 2020, according to our econometric models.

Switzerland GDP Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-09-06 05:45 AM GDP Growth Rate QoQ Q2 0.7% 1% 0.5% 0.5%
2018-11-29 06:45 AM GDP Growth Rate QoQ Q3 -0.2% 0.7% 0.4% 0.6%
2019-02-28 06:45 AM GDP Growth Rate QoQ Q4 0.2% -0.3% 0.4% 0.5%
2019-05-28 05:45 AM GDP Growth Rate QoQ Q1 0.6% 0.3% 0.4% 0.3%
2019-09-05 05:45 AM GDP Growth Rate QoQ Q2 0.6% 0.3%
2019-11-28 06:45 AM GDP Growth Rate QoQ Q3 0.4%



Swiss Q1 GDP Growth Stronger than Estimated

The Swiss economy advanced 0.6 percent on quarter in the three months to March 2019, twice faster than an upwardly revised 0.3 percent growth in the previous quarter and beating market expectations of a 0.4 percent expansion. It was the second straight quarterly expansion, as household consumption growth accelerated and there was a rebound in both construction spending and investment in equipment and software. Also, net foreign demand contributed positively to the GDP growth.

On the expenditure side, household consumption increased by 0.4 percent in the first quarter, faster than a 0.3 percent rise in the December quarter and marking the first above-average growth for the first time in six quarters. Consumption expenditures grew in almost all segments and most significantly in healthcare and mobility. In addition, construction spending rebounded markedly (0.5 percent vs -0.2 percent in Q4), boosted by building construction activity and civil engineering work; while investment in equipment and software recovered sharply (1.5 percent vs -0.1 percent in Q4), mainly driven by rises in research and development activities, vehicles and IT services. At the same time, government spending growth was unchanged (at 0.3 percent). Meanwhile, net foreign demand contributed positively to the GDP growth, with exports of goods continuing to grow (2.2 percent vs 5.8 percent in Q4) and imports of goods rising further (2.4 percent vs 0.8 percent). Meantime, exports of services rose by 1.7 percent (vs 0.6 percent in Q4), and imports of services expanded at a slower 1.3 percent (vs -0.4 percent in Q4).  

On the production side, manufacturing saw dynamic growth (1.5 percent), mainly led by the pharmaceutical industry as well as  watchmaking and precision instruments. Within services, growth was recorded for healthcare (0.8 percent), and business-related services (0.4 percent). Also, there were value added in trade (0.5 percent), the first rise following five negative quarters, bolstered by the positive development in wholesale. Finally, the finance sector  also returned to growth (0.7 percent).

Year-on-year, the GDP grew by 1.7 percent in the first quarter, accelerating from an upwardly revised 1.5 expansion in the previous quarter and also beating market forecasts of a 1 percent advance. 

In 2018, the economy expanded 2.6 percent, much stronger than a 1.6 percent growth in 2017.


SECO l Rida Husna | rida@tradingeconomics.com
5/28/2019 9:59:37 AM



Switzerland GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.60 0.30 2.40 -1.90 percent [+]
GDP Annual Growth Rate 1.70 1.50 5.80 -3.70 percent [+]
GDP 705.50 678.97 709.18 9.52 USD Billion [+]
GDP Constant Prices 176651.74 175664.23 176651.74 89780.29 CHF Million [+]
Gross Fixed Capital Formation 43546.20 43060.10 43639.70 18652.50 CHF Million [+]
GDP per capita 78816.20 77452.00 78816.20 49581.20 USD [+]
GDP per capita PPP 59019.20 57997.60 59019.20 46129.40 USD [+]


Switzerland GDP Growth Rate

On the expenditure side, household consumption is the main component of Swiss GDP and accounts for 54 percent of its total, followed by gross fixed capital formation (24 percent) and government expenditure (11 percent). Foreign trade adds 11 percent to GDP as exports account for 64 percent and imports for 53 percent. This page provides - Switzerland GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Switzerland GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on July of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
0.60 0.30 2.40 -1.90 1980 - 2019 percent Quarterly
SA, WDA




Country Last Previous
United States 3.10 Mar/19
China 1.60 Jun/19
India 1.60 Dec/18
Turkey 1.30 Mar/19
Saudi Arabia 1.07 Dec/18
Spain 0.70 Mar/19
Japan 0.60 Mar/19
Switzerland 0.60 Mar/19
Netherlands 0.50 Mar/19
United Kingdom 0.50 Mar/19
Australia 0.40 Mar/19
Euro Area 0.40 Mar/19
Germany 0.40 Mar/19
France 0.30 Mar/19
Canada 0.10 Mar/19
Italy 0.10 Mar/19
Argentina -0.20 Mar/19
Brazil -0.20 Mar/19
Mexico -0.20 Mar/19
Russia -0.40 Mar/19
South Korea -0.40 Mar/19
Indonesia -0.52 Mar/19
South Africa -3.20 Mar/19
Singapore -3.40 Jun/19


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