FOREX ALERTS >>
DailyFX Plus Login

fundamental alert

Article

Swiss 3Q GDP Fails to Impress, Heightening Growth Fears
Thursday, 04 December 2008 06:17:21 GMT  |  DailyFX Research
Delicious
Facebook

Swiss GDP growth was flat q/q in Q3, in line with expectations, while Q2 growth was revised down to 0.3% q/q from 0.4%. Private consumption rose by 0.3% q/q, while public consumption increased by 0.7%, highlighting government efforts to boost the economy and compared to 0.6% q/q and 0.4% q/q respectively in Q2. Investment growth continued to contract for a second quarter, down 1.4% q/q in Q3. Meanwhile, y/y GDP was 1.6%, versus a 1.7% median and compared to 2.6% in Q2 (revised down from 2.3%). Although the Swiss economy proved more resilient than most European economies to the credit crunch and the global slowdown in the first half of the year, economic activity is now slowing rapidly, as seen in recent sharp drops to the KOF leading indicator and PMI, and the risk for recession lingers.

More Articles

Feedback Form