The Swiss economy shrank 2.6 percent on quarter in the three months to March 2020, the most since records began in 1980 and compared with market consensus of a 2 percent contraction, as economic activity in March was severely restricted due to the coronavirus pandemic and the strict containment measures to contain it. Private consumption tumbled (-3.5 percent vs 0.3 percent in Q4) as well as investment in both equipment and software (-4 percent vs 2.8 percent) and construction (-0.4 percent vs 0.6 percent). Meanwhile, government spending growth was steady at 0.7 percent. At the same time, both exports and imports declined. On the production side, the service sector was particularly affected by business closures and restrictions, with historic declines in trade, accommodation & food services, transport & communications and healthcare sectors. The manufacturing sector reported the sharpest fall since the Swiss franc shock in early 2015.

GDP Growth Rate in Switzerland averaged 0.42 percent from 1980 until 2020, reaching an all time high of 2.40 percent in the fourth quarter of 1999 and a record low of -2.60 percent in the first quarter of 2020. This page provides - Switzerland GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Switzerland GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020.

GDP Growth Rate in Switzerland is expected to be -5.20 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 1.20 in 12 months time. In the long-term, the Switzerland GDP Growth Rate is projected to trend around 0.50 percent in 2021 and 0.40 percent in 2022, according to our econometric models.

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Switzerland GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-2.60 0.30 2.40 -2.60 1980 - 2020 percent Quarterly
SA, WDA


Calendar GMT Actual Previous Consensus TEForecast
2019-09-05 05:45 AM Q2 0.3% 0.4% 0.2% 0.3%
2019-11-28 06:45 AM Q3 0.4% 0.3% 0.2% 0.3%
2020-03-03 06:45 AM Q4 0.3% 0.4% 0.2% 0.3%
2020-06-03 05:45 AM Q1 -2.6% 0.3% -2% -2.4%
2020-08-27 05:45 AM Q2 -2.6% -5.2%
2020-12-01 06:45 AM Q3 2.5%


News Stream
Swiss GDP Contracts at Record Pace in Q1
The Swiss economy shrank 2.6 percent on quarter in the three months to March 2020, the most since records began in 1980 and compared with market consensus of a 2 percent contraction, as economic activity in March was severely restricted due to the coronavirus pandemic and the strict containment measures to contain it. Private consumption tumbled (-3.5 percent vs 0.3 percent in Q4) as well as investment in both equipment and software (-4 percent vs 2.8 percent) and construction (-0.4 percent vs 0.6 percent). Meanwhile, government spending growth was steady at 0.7 percent. At the same time, both exports and imports declined. On the production side, the service sector was particularly affected by business closures and restrictions, with historic declines in trade, accommodation & food services, transport & communications and healthcare sectors. The manufacturing sector reported the sharpest fall since the Swiss franc shock in early 2015.
2020-06-03
Swiss Q4 GDP Growth Beats Forecasts
The Swiss economy expanded 0.3 percent on quarter in the three months to December 2019, following a 0.4 percent growth in the previous period and slightly beating market consensus of 0.2 percent. There were increases in private consumption (0.4 percent vs 0.2 percent in Q3), government spending (0.5 percent vs 0.6 percent), equipment and software investment (2.4 percent vs 0.2 percent) and construction investment (0.4 percent vs 0.3 percent). In addition, net external demand contributed positively to the GDP, with exports falling less than imports. On the production side, the service sector growth was mainly driven by trade, business services, public administration and healthcare, while transport & communication and finance contracted. Construction output rebounded, while manufacturing stagnated following four quarters of growth as international headwinds continued to hit cyclically sensitive sectors such as machinery and metals.
2020-03-03
Swiss Q3 GDP Growth Stronger than Forecast
The Swiss economy grew 0.4 percent on quarter in the three months to September 2019, following a 0.3 percent expansion in the previous period and beating market expectations of 0.2 percent. Investment in construction and equipment and software rebounded, and government spending increased at a faster pace. Year-on-year, the economy grew 1.1 percent, after a 0.2 percent advance in the previous quarter and well above forecasts of a 0.8 percent expansion.
2019-11-28
Swiss Q2 GDP Growth Slows to 0.3%
Switzerland's GDP advanced 0.3 percent on quarter in the three months to June 2019, following a downwardly revised 0.4 percent expansion in the previous period and compared to market expectations of a 0.2 percent growth. Government spending slowed while fixed investment contracted, namely construction investment and spending in equipment and software; and net foreign demand contributed negatively to the GDP. Year-on-year, the economy grew by 0.2 percent in the June quarter, the weakest growth since a 0.4 percent contraction in the fourth quarter 2009, after a downwardly revised 1 percent expansion in the previous quarter and missing forecasts of a 0.9 percent advance.
2019-09-05

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.