Switzerland Q2 GDP +0.3% vs +0.2% q/q expected
Latest data released by SECO - 5 September 2019
- Prior (Q1) +0.6%; revised to +0.4%
- GDP +0.2% vs +0.9% y/y expected
- Prior +1.7%; revised to +1.0%
The quarterly figure is slightly better than expected but still shows a further slowdown from Q1 - which was revised downwards. The annual growth figure isn't too pleasant though, as the Swiss economy is seen expanding at its slowest annual pace since December 2008.
Looking at the details, household consumption was a factor in boosting economic growth during the quarter while exports and imports both served as a drag - a similar effect to what we're seeing across the region for the most part.