The Swiss State Secretariat for Economic Affairs (SECO) announced second quarter 2015 GDP estimates today that showed growth of 0.2% compared to the previous quarter. Those who had predicted a second consecutive quarter of negative growth were proved wrong. These second quarter results mean Switzerland has avoided recession, defined by economists as two consecutive quarters of negative growth.
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Goods imports fell more than exports delivering a positive trade balance, while the balance of trade in services was negative. Consumption by private households and the government, along with investments provided support for GDP growth. Added together the overall result was positive. Compared to the second quarter of 2014, GDP was up by 1.2%.
SECO website – in English
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