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Switzerland posts GDP growth in Q2: report

Xinhua, September 6, 2016 Adjust font size:

Switzerland's real GDP grew by 0.6 percent in 2016's second quarter, up 2 percent from the same period last year, the Swiss State Secretariat for Economic Affairs (SECO) said Tuesday.

"Positive contributions to GDP came from foreign trade as well as government consumption, while household consumption expenditure stagnated, and investment in construction and equipment fell slightly," SECO explained in a statement.

"On the production side of GDP, growth was broadly based across sectors. The biggest boosts came from the energy sector, government-related sectors and other services," it added.

In terms of production, the highest growth rates were recorded in the energy sector (5.8 percent), the education sector (2 percent) and the hotel and catering industry (2.5 percent).

Manufacturing posted a slight fall (down 0.1 percent), as did the export and import of services (minus 0.1 and 1.1 percent respectively).

The export of chemicals and pharmaceuticals provided the strongest contribution to Swiss export growth which rose by 0.8 percent in the period under review.

Imports of goods also recorded growth, increasing by 0.5 percent in this year's second quarter. Endit