Economy Swiss GDP continues to grow in the third quarter

As in the two previous quarters, the Swiss economy continued to grow in the third quarter. However, growth weakened somewhat compared to the previous quarter, 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 negative development in industry, according to the brief Seco communiqué.

This puts GDP development at the lower end of the estimates. Economists surveyed by AWP had expected growth of 0.2 to 0.4 percent 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 later could still change the result. The official estimate for the third quarter will be published on November 29.

SDA