Switzerland: Economy rebounds in Q4
March 2, 2016
In the fourth quarter, GDP increased 0.4% over the previous quarter in seasonally-adjusted terms, which contrasted the 0.1% drop seen in the third quarter and marked the best result in a year. The print came above the 0.2% increase seen in the third quarter. Compared to the same quarter last year, GDP rose 0.4%, which was below the previous quarter’s 0.8% increase.
In Q4, government consumption rebounded from a 0.1% drop in Q3 to a 0.6% expansion in Q4. Conversely, private consumption grew only 0.1%, which was a slowdown over the 0.3% tallied in the previous quarter. Moreover, fixed investment dropped 0.5%, which was down from the 0.3% decrease observed in the previous quarter and marked the worst result in over three years.
On the external side of the economy, exports of goods and services expanded 3.1% over the previous quarter, which came in below Q3’s 5.7% increase. Moreover, imports decelerated from a 4.3% growth in the third quarter to a 3.2% in the fourth quarter,. As a result, the external sector’s net contribution to growth deteriorated from 1.5 percentage points in Q3 to 0.4 percentage points in Q4.
Author: Dirina Mançellari, Senior Economist