Swiss Economy Rebounds In Q1

RTTNews | il y a 772
Swiss Economy Rebounds In Q1

(RTTNews) - The Swiss economy rebounded at a faster-than-expected pace at the start of the year on robust domestic demand, government data showed on Tuesday.

Gross domestic product grew 0.3 percent sequentially in the first quarter after stagnating in the fourth quarter of 2022, the State Secretariat for Economic Affairs, or SECO, reported. The rate also exceeded economists' forecast of 0.1 percent expansion.

GDP, adjusted for sports events, logged a quarterly growth of 0.5 percent after posting a nil growth.

The expenditure-side of GDP showed that private consumption, investment and exports were the major drivers of growth.

Private spending registered a faster increase of 0.6 percent following a 0.2 percent rise a quarter ago. There was significant increase in consumer spending on services, such as mobility and tourism.

At the same time, government consumption remained flat after a 0.1 percent drop.

The quarterly growth in equipment and software investment improved to 2.6 percent from 0.1 percent, driven by higher investment in research and development. Meanwhile, construction investment was down 0.1 percent.

Exports of goods surged 4.0 percent, while shipment of services decreased 5.5 percent. At the same time, imports of goods moved up 5.4 percent and that of services gained 1.4 percent.

Overall, the contribution of foreign trade to GDP growth was slightly negative, data showed.

On a yearly basis, economic growth slowed marginally to 0.6 percent from 0.7 percent. The rate came in line with expectations. In March, the Swiss National Bank had projected the economy to grow around 1 percent this year.

The outlook for the economy continued to darken, a survey data from the Zurich-based KOF Swiss Economic Institute showed Tuesday. The KOF Economic Barometer fell to 90.2 in May from revised 96.4 in April. The indicator declined for the second straight month.

read more
Swiss Central Bank Lowers Policy Rate To Zero As Expected

Swiss Central Bank Lowers Policy Rate To Zero As Expected

The Swiss National Bank reduced its policy rate to zero on Thursday as inflation turned negative and the currency strengthened further amid global trade tensions. The bank decided to lower the SNB policy rate by 0.25 percentage points to zero percent. This was the sixth consecutive reduction. The bank has reduced the key rate by 175 basis points since March 2024.
RTTNews | il y a 21
Swiss GDP Growth Accelerates In Q1

Swiss GDP Growth Accelerates In Q1

Switzerland's economic growth accelerated in the first quarter on a notable rebound in exports to the US ahead of the increase in trade tariffs, official data revealed on Monday. Gross domestic product expanded by adjusted 0.8 percent sequentially after rising 0.6 percent in the fourth quarter of 2024, the State Secretariat for Economic Affairs, or SECO, reported.
RTTNews | il y a 38
Swiss Central Bank Cuts Policy Rate To Lowest Since 2022

Swiss Central Bank Cuts Policy Rate To Lowest Since 2022

The Swiss National Bank trimmed its interest rate for the fifth consecutive meeting on Thursday, amid heightened downside risks to inflation. The policy board, led by President Martin Schlegel, lowered the policy rate by 25 basis points to 0.25 percent from 0.50 percent. This followed a 50 basis point cut in December. The bank has reduced the key rate by 150 basis points since March 2024.
RTTNews | il y a 112
Swiss GDP Growth Improves In Q4

Swiss GDP Growth Improves In Q4

Switzerland's economic growth improved more than estimated in the fourth quarter on consumption and exports, official data revealed on Thursday. GDP grew 0.5 percent from the previous quarter, following a 0.2 percent rise in the third quarter, the State Secretariat for Economic Affairs, or SECO. The fourth quarter growth marginally exceeded the flash estimate of 0.4 percent.
RTTNews | il y a 133
Swiss Central Bank Cuts Policy Rate By 50 Bps

Swiss Central Bank Cuts Policy Rate By 50 Bps

Amid easing inflationary pressures, the Swiss National Bank reduced its benchmark rate by a sharper-than-expected 50 basis points to curb the strength of the Swiss franc. At the first policy meeting of Martin Schlegel as chairman, the policy rate was lowered to 0.50 percent from 1.00 percent. The new rate takes effect on December 13.
RTTNews | il y a 210
Swiss Central Bank Trims Policy Rate; Hints At Further Cuts

Swiss Central Bank Trims Policy Rate; Hints At Further Cuts

The Swiss National Bank reduced its key policy rate by 25 basis points for the third straight meeting and signaled additional easing as the franc's strength had lowered inflationary pressure. At the final rate-setting meeting of Thomas Jordan as chairman, the policy board lowered the policy rate to 1.0 percent from 1.25 percent, as expected.
RTTNews | il y a 287
Swiss GDP Growth Accelerates As Estimated

Swiss GDP Growth Accelerates As Estimated

Switzerland's economic growth accelerated in the second quarter as initially estimated on strengthening manufacturing and services output, data from the State Secretariat for Economic Affairs, or SECO, showed on Tuesday. Gross domestic product grew 0.5 percent sequentially after posting 0.3 percent growth in the previous two quarters. The rate came in line with the flash estimate.
RTTNews | il y a 310