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SWITZERLAND DATA: Q3 GDP Confirms Flash; Industry Weaker, Mixed Services

SWITZERLAND DATA
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Swiss Q3 GDP came in in line with the flash release at +0.2% Q/Q on a sports-event and seasonally adjusted basis. This follows Q2's +0.4%, and shows the Swiss economy is continuing its gradual growth trajectory amid significant growth concerns the Eurozone. The KOF indicator increased by 2.1 points to 101.8 in November, supporting that narrative.

  • "Parts of the services sector, construction and consumption supported growth, while exports of goods and value added in manufacturing declined. The chemical and pharmaceutical industry barely grew after a strong previous quarter; the other manufacturing sectors recorded significant declines", SECO adds.
  • Across expenditure categories, domestic demand was strong, while equipment investment saw the second consecutive quarter of clear declines. See the table for details.
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Swiss Q3 GDP came in in line with the flash release at +0.2% Q/Q on a sports-event and seasonally adjusted basis. This follows Q2's +0.4%, and shows the Swiss economy is continuing its gradual growth trajectory amid significant growth concerns the Eurozone. The KOF indicator increased by 2.1 points to 101.8 in November, supporting that narrative.

  • "Parts of the services sector, construction and consumption supported growth, while exports of goods and value added in manufacturing declined. The chemical and pharmaceutical industry barely grew after a strong previous quarter; the other manufacturing sectors recorded significant declines", SECO adds.
  • Across expenditure categories, domestic demand was strong, while equipment investment saw the second consecutive quarter of clear declines. See the table for details.