Swiss GDP Expands 0.4% in Q2

Switzerland's GDP expanded by 0.4% quarter-on-quarter in Q3 2024, slowing from a 0.6% growth rate in Q2, in line with expectations.

Growth was supported by sectors like real estate, professional and technical activities, trade (up 1.4%), public administration (0.5%), and human health and social work (0.5%).

However, manufacturing contracted sharply by 1.1%.

On the expenditure side, private and government consumption both rose by 0.5%, but net trade weighed on growth as goods exports fell 3.9% and imports dropped 2.1%.

Year-on-year, GDP grew by 2% in Q3, an improvement from 1.5% in Q2 and surpassing market forecasts of 1.8%.