The Swiss GDP grew 0.2% in the fourth quarter of 2024 compared with the previous trimester, the Swiss State Secretariat for Economic Affairs (SECO) announced on Thursday.
The quarterly growth was driven by "roughly equal" growth in the services and industrial sectors. In industry, the largest growth was observed in chemical and pharmaceutical industry, which climbed 2.7%, and energy, up 2.6%. Meanwhile, on the services side, the accommodation and food services sector grew 3.5%, mostly due to a significant increase in overnight stays, in particular the number of overnight stays by international guests.
On an annual basis, the Swiss economy grew by 1.5% compared to the fourth quarter of 2023. When adjusted for sporting events, the Swiss GDP climbed 0.5% quarter on quarter and increased 1.2% year on year.
