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. 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 0.40 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 0.30 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
2018-11-29 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 0.3% 0.4% 0.2% 0.3%
2019-11-28 06:45 AM GDP Growth Rate QoQ Q3 0.3% 0.4%



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.

On the expenditure side, government spending advanced much softer in the second quarter (0.1 percent vs 0.5 percent in Q1); while household consumption growth was unchanged (at 0.3 percent) and slightly below-average growth, mainly supported by expenditure for healthcare, housing and energy. 

In addition, gross fixed capital formation contracted (-0.7 percent vs 1.6 percent), as both construction investment (-0.1 percent vs 0.5 percent in Q1) and equipment and software investment (-1 percent vs 2.4 percent) declined amid a further fall in machinery investment as the uncertain environment is dampening companies’ investment activity. At the same time, net foreign demand contributed negatively to the GDP growth, as exports rose 1.8 percent (vs -0.8 percent in Q1) while imports jumped at a faster 5 percent (vs -2.4 percent in Q1).

On the production side, output growth slowed for manufacturing (1.3 percent vs 1.4 percent); construction (0.1 percent vs 1.4 percent); financial service activities (0.7 percent vs 2.0 percent) and health and social activities (0.4 percent vs 0.8 percent). Also, output contracted for trade (-0.3 percent vs 0.6 percent); business services (-0.1 percent vs 0.5 percent); public administration (-0.1 percent vs 0.1 percent); and utilities (-2.4 percent vs 0.8 percent) while production of accommodation, food increased much faster (2.6 percent vs 0.2 percent).

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. 


SECO l Rida Husna | rida@tradingeconomics.com
9/5/2019 9:21:50 AM


News

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.
Published on 2019-05-28

Swiss Economy Grows Less than Expected in Q4
The Swiss economy advanced 0.2 percent on quarter in the three months to December 2018, rebounding from an upwardly revised 0.3 percent contraction in the previous period but missing market expectations of a 0.4 percent expansion.
Published on 2019-02-28

Swiss Economy Contracts for 1st Time in Nearly 2 Years
The Swiss economy unexpectedly shrank 0.2 percent on quarter in the three months to September 2018, after a 0.7 percent growth in the previous period and missing market expectations of a 0.4 percent expansion. It was the first quarterly contraction since the fourth quarter of 2016, as net trade contributed negatively to the GDP and investment in equipment slumped while household consumption was almost unchanged.
Published on 2018-11-29

Swiss Q2 GDP Growth Stronger than Expected
The Swiss economy grew by 0.7 percent on quarter in the three months to June 2018, following an upwardly revised 1 percent expansion in the previous period and beating market consensus of 0.5 percent. GDP expanded at an above average rate for the fifth quarter in a row mainly supported by a strong increase in exports of goods despite global trade disputes.
Published on 2018-09-06



Switzerland GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.30 0.40 2.40 -1.90 percent [+]
GDP Annual Growth Rate 0.20 1.00 5.80 -3.70 percent [+]
GDP 705.50 678.97 709.18 9.52 USD Billion [+]
GDP Constant Prices 177199.92 176694.54 177199.92 89780.29 CHF Million [+]
Gross Fixed Capital Formation 42517.40 42796.50 43049.80 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 October of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
0.30 0.40 2.40 -1.90 1980 - 2019 percent Quarterly
SA, WDA




Country Last Previous
Indonesia 4.20 Jun/19
South Africa 3.10 Jun/19
United States 2.00 Jun/19
China 1.60 Jun/19
Turkey 1.20 Jun/19
India 1.00 Jun/19
South Korea 1.00 Jun/19
Canada 0.90 Jun/19
Singapore 0.60 Sep/19
Australia 0.50 Jun/19
Brazil 0.40 Jun/19
Netherlands 0.40 Jun/19
Spain 0.40 Jun/19
France 0.30 Jun/19
Japan 0.30 Jun/19
Switzerland 0.30 Jun/19
Euro Area 0.20 Jun/19
Russia 0.20 Jun/19
Italy 0.00 Jun/19
Mexico 0.00 Jun/19
Saudi Arabia 0.00 Mar/19
Germany -0.10 Jun/19
United Kingdom -0.20 Jun/19
Argentina -0.30 Jun/19


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