Swiss GDP continues to grow in the third quarter
Published: Friday, Nov 15th 2024, 10:20
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As in the two previous quarters, the Swiss economy continued to grow in the third quarter of the year. However, growth weakened somewhat compared to the previous quarter and was below average, as the initial estimate by the State Secretariat for Economic Affairs (Seco) shows.
According to the figures published by Seco on Friday, GDP increased by 0.2% on an adjusted basis between July and September 2024 compared to the previous quarter. Growth in the services sector was offset by a negative trend in industry, according to the brief Seco communiqué.
This puts GDP growth at the lower end of estimates. Economists surveyed by AWP had expected growth of 0.2% to 0.4% in the third quarter. In the second quarter, GDP had increased by 0.5 percent compared to the previous quarter, while the increase in the first quarter was 0.3 percent.
The current data is based on a quick estimate by Seco. Basic data that is still incomplete is supplemented with forecast values. The complete and updated data available at a later date could still change the result. The official estimate for the third quarter will be published on November 29.
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