Swiss GDP grew 0.2% qoq in Q4, rebounded from Q3’s -0.3% qoq contraction, but missed expectation of 0.4% qoq. SECO noted that “as in other European countries, this confirms a slowdown of the economy compared to the first half of the year.”
Looking at the details, manufacturing grew 1.5%, benefited from the strong international demand for Swiss products: exports of goods**(+5.6%) grew substantially. Development in the service industry varied and remained below the historical average, curbed by declining exports of services (−2.6 %) and a final domestic demand which remains sluggish (−0.0%). Consumption expenditures of private households (+0.3%) saw a moderate rise.
