Domestic Demand in Switzerland
Switzerland - Domestic Demand
Economic growth eases in the third quarter
Economic growth ebbed slightly in the third quarter, with GDP increasing 1.7% on a seasonally-adjusted quarter-on-quarter basis (Q2: +1.8% s.a. qoq). The economy is now above its pre-pandemic level, and thus is faring well relative to European peers. However, the Q3 slowdown would have been more pronounced if not for a large positive contribution from the “changes in inventories and statistical discrepancies” subsector.
Household spending growth waned to 2.7% seasonally-adjusted quarter-on-quarter in Q3 compared to a 4.0% expansion in Q2. Public consumption contracted 1.5% in Q3 (Q2: +4.1% s.a. qoq), likely due to reduced pandemic-related spending. Meanwhile, fixed investment was down 0.8% in Q3, contrasting the 2.1% expansion recorded in the prior quarter.
Exports of goods and services contracted 0.1% in Q3, marking the worst reading since Q2 2020 (Q2: +3.9% s.a. qoq). Conversely, imports of goods and services declined at a softer rate of 1.4% in Q3 (Q2: -1.7% s.a. qoq).
On an annual basis, economic growth lost momentum, cooling to 4.1% in Q3, down from the previous period's 8.6% growth.
Economic momentum will likely weaken in the final quarter due to the fresh wave of Covid-19 and supply constraints.
FocusEconomics Consensus Forecast panelists project the economy to expand 3.0% in 2022, which is unchanged from the previous month’s forecast. In 2023, the panel expects GDP to grow 1.8%.
Switzerland - Domestic Demand Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Domestic Demand (annual variation in %) | 2.2 | 0.8 | 1.8 | 0.8 | 0.0 |
Switzerland Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | -0.51 | 6.27 % | Jan 01 |
| Exchange Rate | 0.97 | -0.54 % | Jan 01 |
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Economic News
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Switzerland: Retail sales growth slows in October
December 2, 2021
Retail sales increased 1.2% year-on-year in calendar-adjusted terms in October (September: +2.6% c.a.
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Switzerland: Inflation comes in at highest level since November 2008 in November
December 1, 2021
Consumer prices increased 0.04% in November over the previous month, moderating from October's 0.30% increase.
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Switzerland: Manufacturing and Services PMIs moderate in November
December 1, 2021
The Credit Suisse/procure.ch Manufacturing Purchasing Managers' Index (PMI) fell to 62.5 in November from October's 65.4.
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Switzerland: KOF Economic Barometer records worst reading since February in November
November 30, 2021
The KOF Economic Barometer came in at 108.5 in November, down from October's 110.2.
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Switzerland: Economic growth eases in the third quarter
November 26, 2021
Economic growth ebbed slightly in the third quarter, with GDP increasing 1.7% on a seasonally-adjusted quarter-on-quarter basis (Q2: +1.8% s.a.
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