Publication notice GDP flash for the third quarter of 2024: Swiss economic growth below average
Bern, 15.11.2024 – In the 3rd quarter of 2024, the Swiss economy grew by 0.3% compared with the previous quarter in real terms. Thus, economic development in Switzerland was below average in an international comparison. Over the past 4 quarters, real GDP increased by 0.7%. These are the results of the GDP flash estimate from the State Secretariat for Economic Affairs (SECO).
In the 3rd quarter of 2024, private consumption expenditure (+0.6%) and government consumption expenditure (+0.7%) made positive contributions to economic growth. Gross fixed capital formation, on the other hand, had a negative impact on GDP growth (-0.5%). Exports of goods and services increased slightly (+0.2%), while imports fell sharply (-1.0%). Thus, net exports contributed positively to GDP growth.
Compared with the same quarter a year earlier, real GDP rose by 1.0% in the 3rd quarter of 2024. Over the last four quarters, GDP growth reached 1.1%. In the 2nd quarter of 2024, GDP growth had amounted to 0.5% quarter-on-quarter and 0.8% year-on-year.
The GDP flash estimate is based on comprehensive data that has been collected up until 11 November 2024. It provides an initial indication of quarterly economic performance in Switzerland and is mainly based on data of the previous month. The detailed results for the 3rd quarter of 2024 will be published on 15 December 2024.
Publication notice GDP flash for the third quarter of 2024: Swiss economic growth below average
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