Swiss Q3 GDP: +0.0 percent QoQ, +1.3 percent YoY

Published on December 2, 2016

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George Dorgan
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from the official release

Gross domestic product in the 3rd quarter of 2016

Bern, 02.12.2016 – Switzerland’s real gross domestic product (GDP) has remained almost unchanged in the 3rd quarter of 2016 (+0.0%). Consumption has contributed very little to growth. Investment in construction and equipment has supported GDP growth, while the trade balance in goods and services had a negative effect. On the production side, the growth of value added has been below its historical mean in most sectors, with trade as well as health and social work activities having a negative impact. Manufacturing and the accommodation and food service industry have made positive contributions. Real GDP has grown by 1.3% in comparison to the 3rd quarter of 2015.

GDP-QNA Tables (PDF, 57 kB, 05.09.2016)

Switzerland Gross Domestic Product (GDP) YoY, September - December 2016

(see more posts on Switzerland Gross Domestic Product, )

. Source: Investing.com - Click to enlarge

Volume index (2011=100), at prices of the preceding year, chained values, reference year 2010, seasonally and calendar adjusted data

QoQ GDP Growth Rate

In the third quarter consumption stagnated. Investment saw considerable increases.

Net exports were a drag on growth because exports of both goods and services contracted in Q3.

Quarter on Quarter Growth Rates ESVG - Click to enlarge

YoY GDP Growth Rate

GDP rose by 1.3% in comparison with Q3/2015.

Household consumption growth was weak with +0.5%. Investment, in particular in equipment and software was strong with +3.3%. Net exports contributed slightly.

Year on Year Growth Rates ESVG - Click to enlarge

Price Indices

Prices of government consumption rose, while price for households are falling slightly. Swiss exporters were exposed to higher price pressure (-2.2%) while prices of imports were rising (+1%).

Switzerland GDP Price Indices ESVG

Price Indices ESVG - Click to enlarge

Year on Year Growth Rates By Sector (ESA)

Agriculture and Industry continue to see strong growth rates. In 2014, the construction sector was a strong driver of GDP, but now it slowed to +0.7% YoY. The same slowing was visible for trade, transport and food services.

Switzerland YoY Real GDP Growth by Sector

Switzerland YoY Real GDP Growth by Sector - Click to enlarge

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About George Dorgan

George Dorgan (penname) predicted the end of the EUR/CHF peg at the CFA Society and at many occasions on SeekingAlpha.com and on this blog. Several Swiss and international financial advisors support the site. These firms aim to deliver independent advice from the often misleading mainstream of banks and asset managers. George is FinTech entrepreneur, financial author and alternative economist. He speak seven languages fluently.

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