The economy of Switzerland expanded 1.8% on quarter in the three months to June 2021, rebounding from a downwardly revised 0.4% drop in the previous period, as many coronavirus restrictions were lifted or relaxed. It compares with market forecasts of a 2% growth. The service sector recovered, boosted by the hotel and catering industry (48.9%) as catering establishments have been allowed to gradually reopen and domestic tourism has restarted, although the value created by the sector is still about half of that before the crisis. Other increases were also seen in the art, entertainment and leisure sector (52.9%), trade (4.8%) and transportation (1.9%) while financial services fell 0.7%. Meanwhile, private spending surged 4.1%, public expenditure 5.5% due to extraordinary spending to deal with the pandemic and investment in capital goods 1.6%. Year-on-year, the economy expanded at a record 7.7%, although below forecasts of 9%. source: State Secretariat for Economic Affairs
GDP Growth Rate in Switzerland averaged 0.44 percent from 1980 until 2021, reaching an all time high of 6.40 percent in the third quarter of 2020 and a record low of -6.20 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 October of 2021.
GDP Growth Rate in Switzerland is expected to be 4.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. 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.