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- Switzerland’s GDP grew by 0.3% in the 2nd quarter of 2017
Switzerland’s GDP grew by 0.3% in the 2nd quarter of 2017
Switzerland's GDP grew by 0.3% in the 2nd quarter of 2017, which is a slight acceleration compared to the previous quarter (revised from +0.3 % to +0.1 %). On the production side of GDP, both the industrial sectors and some service sectors contributed to growth in the 2nd quarter.
Manufacturing (+0.9%) grew again at a rate above the historical average, but was not able to keep up with the strong performance of the previous quarter. Moreover, value added in-creased markedly in the energy sector (+2.2 %). Two important service sectors also grew considerably in the 2nd quarter: the hotel and catering industry (+3.4 %), which had expanded only slightly in the previous quarter, and the financial sector (+2.7 %), which, after a decline in the 1st quarter, was able to resume the positive trend of the second half of 2016. However, some other service sectors performed only poorly. Value added fell slightly in trade (-0.2 %), public administration (-0.1 %) and the healthcare sector (-0.1 %), and stagnated in business services (+0.0 %).
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