FXstreet.com (Barcelona) - Swiss GDP rose 2.0% in the first quarter of 2012, following a 2.0% increase in the previous quarter, the State Secretariat for Economic Affairs SECO informed on Thursday. This is a much higher result than median forecasts of 0.9%.
On a quarterly basis Swiss GDP edged up 0.7% in Q1, in comparison with the 0.5% rise registered the previous quarter and against forecasts of remaining flat.
According to the official publication: “Private and public consumption delivered a positive boost to growth, whilst gross fixed capital formation and external trade by contrast made a negative contribution to the rise in GDP. On the production side the services sectors, banking, insurances, real estate, IT and research and development, all made a positive contribution to growth, as did the public administration, social services and healthcare. Industry reported however a decrease in the value-added.”
On a quarterly basis Swiss GDP edged up 0.7% in Q1, in comparison with the 0.5% rise registered the previous quarter and against forecasts of remaining flat.
According to the official publication: “Private and public consumption delivered a positive boost to growth, whilst gross fixed capital formation and external trade by contrast made a negative contribution to the rise in GDP. On the production side the services sectors, banking, insurances, real estate, IT and research and development, all made a positive contribution to growth, as did the public administration, social services and healthcare. Industry reported however a decrease in the value-added.”
