Swiss GDP grows 0.3% in Q3 - Breaking The News

Swiss GDP grows 0.3% in Q3

1 December

1 min read

EPA-EFE/MICHAEL BUHOLZER

The Swiss GDP increased by 0.3% in the third quarter of the year compared with the previous trimester, the Swiss State Secretariat for Economic Affairs (SECO) announced on Friday. On an annual basis, the Swiss economy fell by 0.3% from the third quarter of 2022.

The accommodation and food services sector decreased in the third quarter by 3.7% for the first time in over two years. Manufacturing value stagnated in the July-to-September period, and the construction sector shrunk by 0.3%. On the other hand, goods exports soared by 6.2% in the third quarter. Health and social care services and trade increased by 0.7% and 1.1%, respectively. Government consumption and private consumption also climbed 0.5% and 0.2%.

According to the report, "the international environment remains challenging, with value added in industry stagnating accordingly."

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