Gross domestic product: Swiss economy grows more than 7 percent in Q3 – News

• The Swiss economy recovered very well in the third quarter from the fall of the Crown in spring.
• Gross domestic product (GDP) increased 7.2 percent in the July-September 2020 period compared to the previous quarter.
• According to the Secretary of State for Economic Affairs, the Swiss are doing better than their neighboring countries.

Domestic demand and parts of the service sector have recovered significantly, while international developments have weighed on exports, he said., Link opens in a new window the Secretary of State for the Economy (Seco) on Tuesday.

Better than neighboring countries

According to the information, the local economy made up about three-quarters of the drop in the first half of the year, with GDP still a good 2 percent below the pre-crisis level at the end of 2019.

Compared to neighboring countries, the Swiss economy has weathered the crown crisis relatively lightly, writes La Seco.

Stronger growth than expected

The rally in this dimension is not entirely surprising, but it was a bit stronger than expected. Economists surveyed by AWP had seen the development compared to the previous quarter at +5.0 to +7.0 percent.

Compared to the previous year, that is, the third quarter of 2019, GDP fell by 1.6 percent; in the second quarter, the fall was 7.8 percent.