Swiss GDP: it grows slightly, + 0.1%

The gross domestic product (GDP) of Switzerland registered an increase of 0.1% in the first quarter from the previous three months. On a year the increase was 0.7%, announced the Secretariat for Economic Affairs (SECO). GDP was supported by household spending, investment in plant and equipment and those in construction, while the state consumption was affected in a negative way.

The costs of households have progressed the 0,7%. They have contributed to the growth sectors of health, housing and energy, while clothing and footwear continue to fall. State expenditure recorded a decrease of 0.8%. Investment in equipment marked a + 2.1%, + 1.1% as construction.

As for the production, the picture is mixed, precise SECO: financial services and the hotel industry were down respectively by 3% and 2.1%, negative trend for education and teaching (-1.7%) and public administration (-0.6%). The value added registered a rise instead an increase of 0.9% in manufacturing, in construction (+ 2.0%) and in health and social sector (+ 2.1%).

The prices, almost all, were down compared to the first quarter of 2015, less markedly than in previous quarters. Foreign trade is the sector that has marked the sharpest decline.