Switzerland grew in Q2: highest since 2014

9 years ago - Published in Finance, Fundamental Analysis

Switzerland does better than expected and accelerate its growth in the second quarter. According to information from the State Secretariat for Economic Affairs (SECO), the Swiss GDP has in fact recorded an increase of 0.6% on a quarterly basis between April and June and rose 2.0% from the previous year, better than the 0.9% expected, the strongest quarterly growth rate since the end of 2014.

"Positive contributions to GDP came from foreign trade as weel as government consumption", SECO wrote in a note. “We have strength in certain sectors like pharmaceuticals — this has also showed up in our export data recently — but still struggling in areas like machinery,” Oliver Adler, head of economic research at Credit Suisse, told Bloomberg Television’s Anna Edwards. 

Meanwhile, a separate report Tuesday showed that deflationary pressures eased in Switzerland last month. Consumer prices fell 0.1% on both a monthly and annual basis, according to the Swiss statistics agency.

 

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