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Swiss GDP posts flat growth in Q3: report

Xinhua, December 3, 2016 Adjust font size:

The Swiss State Secretariat for Economic Affairs (SECO) said Friday that the confederation's real GDP stagnated at 0 percent in this year's third quarter, despite being 1.3 percent up compared to the same period in 2015.

While consumption contributed very little to growth, investment in construction and equipment has supported GDP growth, both rising by 0.5 percent.

The balance of trade in goods and services had a negative impact however, the SECO added.

Exports of goods dropped by 0.2 percent in 2016's third quarter, while imports, supported by the chemicals and pharmaceuticals as well as vehicles categories, registered a 0.2 percent increase.

Exports of services fell by 0.8 percent, with imports posting no growth, the SECO continued.

In terms of production, GDP growth was hindered by poor performances in trade, financial services as well as health and social work activities, which all posted a 0.4 percent downturn.

GDP growth was stimulated by moderate growth in the manufacturing sector (plus 0.9 percent), the accommodation and food service industry (plus 0.3 percent) and public administration (up 0.1 percent). Endit