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. Household consumption increased at a stronger pace and net foreign demand contributed positively to the GDP growth while fixed investment contracted. GDP Growth Rate in Switzerland averaged 0.43 percent from 1980 until 2018, 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 0.30 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 0.50 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
2018-05-31 05:45 AM GDP Growth Rate QoQ 0.6% 0.6% 0.5% 0.5%
2018-09-06 05:45 AM GDP Growth Rate QoQ 0.7% 1% 0.5% 0.5%
2018-11-29 06:45 AM GDP Growth Rate QoQ -0.2% 0.7% 0.4% 0.6%
2019-02-28 06:45 AM GDP Growth Rate QoQ 0.2% -0.3% 0.4% 0.5%
2019-05-28 05:45 AM GDP Growth Rate QoQ 0.2% 0.3%
2019-09-05 05:45 AM GDP Growth Rate QoQ 0.3%
2019-11-28 06:45 AM GDP Growth Rate QoQ 0.4%



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.

On the expenditure side, household consumption increased at a faster 0.3 percent in the fourth quarter (vs 0.1 percent in Q3), mainly supported by health spending; and government expenditure edged up 0.1 percent, reversing a 0.1 percent decline in Q3. In addition, net foreign demand contributed positively to the GDP, as exports of goods and services rose 2.8 percent (vs -2.7 percent in Q3), led by goods (5.6 percent vs -4.1 percent), while imports fell 0.5 percent (vs -2.4 percent in Q3). In contrast, investment in equipment and software contracted 1.1 percent (vs -1.9 percent in Q3) due to the volatile research and development category; and construction spending dropped 0.4 percent (vs -0.2 percent in Q3) particularly as a result of decreasing activity in building construction.

On the production side, manufacturing output grew 1.5 percent, following a contraction in the previous period, boosted by the chemical and pharmaceutical segemnt. Other industries also reported turnover increases, such as the watchmaking and precision instrument industry as well as the food industry. Within services, growth was recorded for healthcare (0.9 percent) and business-related services (0.4 percent), while a contraction was seen in trade (-0.6 percent), due to a drop in wholesale, and in the financial sector (-0.8 percent).

Year-on-year, the GDP grew 1.4 percent in the fourth quarter, easing from a 2.4 expansion in the previous quarter and also missing market forecasts of 1.7 percent. It was the weakest annual growth rate since the June quarter of 2017.

Considering 2018 full year, the economy grew 2.5 percent, faster than 1 percent in 2017. On the expenditure side, foreign trade provided the greatest impetus for growth. By contrast, domestic demand developed less dynamically: private consumption, in particular, saw below average growth, having been curbed by the weak development of real purchasing power; and investment in construction and equipment also lost momentum compared to 2017. On the production side, manufacturing was the strongest driver of growth. The sector was able to benefit from high international demand for Swiss industrial goods. Most of the other industries were also able to expand. A major exception is trade, which registered a decline in value added for the first time since 2011.


SECO | Rida Husna | rida@tradingeconomics.com
2/28/2019 1:26:23 PM



Switzerland GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.20 -0.30 2.40 -1.90 percent [+]
GDP Annual Growth Rate 1.40 2.40 5.80 -3.70 percent [+]
GDP 678.89 668.75 709.18 9.52 USD Billion [+]
GDP Constant Prices 175308.33 175016.19 175467.90 89780.29 CHF Million [+]
Gross Fixed Capital Formation 42669.40 43021.10 43575.00 18652.60 CHF Million [+]
GDP per capita 76667.44 76682.64 76682.64 54420.97 USD [+]
GDP per capita PPP 57410.17 57421.55 57421.55 46129.44 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 March of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
0.20 -0.30 2.40 -1.90 1980 - 2018 percent Quarterly
SA, WDA




Country Last Previous
United States 2.60 Dec/18
Saudi Arabia 1.60 Sep/18
China 1.50 Dec/18
India 1.50 Sep/18
Singapore 1.40 Dec/18
South Africa 1.40 Dec/18
South Korea 1.00 Dec/18
Spain 0.70 Dec/18
Japan 0.50 Dec/18
Netherlands 0.50 Dec/18
France 0.30 Dec/18
Russia 0.30 Sep/18
Australia 0.20 Dec/18
Euro Area 0.20 Dec/18
Mexico 0.20 Dec/18
Switzerland 0.20 Dec/18
United Kingdom 0.20 Dec/18
Brazil 0.10 Dec/18
Canada 0.10 Dec/18
Germany 0.00 Dec/18
Italy -0.10 Dec/18
Argentina -0.70 Sep/18
Indonesia -1.69 Dec/18
Turkey -2.40 Dec/18


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