The Swiss economy grew by 7.2 percent on quarter in the third quarter of 2020, the most since at least 1980, after a historic plunge of 7 percent in the prior quarter, as economic activity recovered from COVID-19 shutdowns. The bounce left the economy about 2 percent smaller than before the pandemic, much less than the gaps seen across major euro-area countries. Private consumption rebounded sharply (11.9 percent vs -8.1 percent in Q2) as well as investment in equipment (8.8 percent vs -10.1 percent). Also, government spending rose 0.2 percent after being flat in the June quarter. Meanwhile, imports grew by 11.2 percent, while exports rose at a softer 6.9 percent. On the production side, there was an upturn in the manufacturing sector. Also, the service sector recovered significantly, supported by hospitality, company-related services, health, and entertainment, recreation. 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 7.20 percent in the third quarter of 2020 and a record low of -7 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 February of 2021.
GDP Growth Rate in Switzerland is expected to be -1.20 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 1.40 in 12 months time. In the long-term, the Switzerland GDP Growth Rate is projected to trend around 1.00 percent in 2021 and 0.40 percent in 2022, according to our econometric models.