Switzerland Q2 GDP +0.7% vs +0.5% q/q expected
Latest data released by the State Secretariat for Economic Affairs - 6 September 2018
- Prior +0.6%; revised to +1.0%
- GDP +3.4% vs +2.4% y/y expected
- Prior +2.2%; revised to +2.9%
That's a hefty beat on growth figures for the Swiss economy, with sizable revisions to boot. Certainly news that will keep Thomas Jordan and the SNB really happy as it allows them more flexibility when it comes to their policy decisions, but at the same time it will beg the question if the central bank needs to start moving before the ECB does.
Fastest annual pace growth since 2010