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- Switzerland's GDP is flat in the third quarter
Switzerland's GDP is flat in the third quarter
The State Secretariat for Economic Affairs (SECO) released its gross domestic product (GDP) data for Switzerland on Tuesday. Switzerland's GDP was flat in the third quarter, missing expectations for a 0.2% rise, after a 0.2% increase in the second quarter.
GDP was driven by a positive contribution from household spending and the balance of trade in goods, while the balance of trade in services had a negative impact.
Exports of goods climbed 1.1% in the third quarter, while exports of services decreased 0.3%.
Imports of goods were flat in the third quarter, while imports of services were up 0.6%.
Household spending climbed by 0.4% in the third quarter, public spending was up 1.8%, equipment and software spending rose 0.2%, while construction spending decreased 0.9%.
On a yearly basis, Switzerland's economy grew at 0.8% in the third quarter, missing expectations for a 0.9% rise, after a 0.9% increase in the second quarter. The second quarter's figure was revised down from a 1.2% gain.
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