Swiss GDP growth slowed to 0.3% qoq in Q4, but beat expectation of 0.2% qoq. GDP grew 0.9% for 2019 as a whole. SECO said “exporting industries lost momentum, while growth was underpinned by the domestic economy. Switzerland thus mirrored the international development.”
Manufacturing stagnated with 0.0% growth, as “international headwinds are continuing to hit cyclically sensitive sectors such as machinery and metals, which suffered further falls in turnover”. Exports dropped -0.5% while imports dropped -2.7%.
