Switzerland's gross domestic product grew by 0.3 percent on quarter in October-December 2020, easing from an upwardly revised 7.6 percent expansion in the previous period and beating market expectations of a flat reading. The economy was again hit by the tightening of the containment measures to curb the spread of a second wave of coronavirus infections at the end of last year. Private consumption contracted considerably (-1.5 percent vs 12.2 percent), as a slump in spending on hospitality and leisure services offset increases in expenditure on food and other goods such as electronics. On the other hand, investment rose, mostly in equipment and software (1.9 percent vs 9.4 percent), and government consumption rebounded firmly (2.3 percent vs -0.1 percent). Net external demand also contributed positively to the GDP as exports fell less than imports. Year-on-year, the economy shrank 1.6 percent. Considering 2020 as a whole, the GDP dropped 2.9 percent. source: State Secretariat for Economic Affairs
GDP Growth Rate in Switzerland averaged 0.43 percent from 1980 until 2020, reaching an all time high of 7.60 percent in the third quarter of 2020 and a record low of -7.20 percent in the second 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 May of 2021.
GDP Growth Rate in Switzerland is expected to be 3.20 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 1.70 in 12 months time. In the long-term, the Switzerland GDP Growth Rate is projected to trend around 0.80 percent in 2022 and 0.40 percent in 2023, according to our econometric models.