Swiss economy estimated to post quarterly growth of 1.5% in the second quarter
- Switzerland Q2 flash GDP +1.5% q/q
- Prior (Q1) +0.4%
This is only the provisional estimate and may be revised after when the more detailed report is released, after around another 60 days. As such, there's not all too much detailed information on this one.
The Swiss statistics office did note that:
"The industrial sector made the largest contribution to growth, which was driven in particular by the chemical and pharmaceutical industry. The services sector also grew as a whole."
In that lieu, it means that much of this "growth" is driven by a surge in chemical and pharmaceutical exports - especially to the US.
Mind you, Swiss foreign trade saw a material rebound in Q2 as exports were seen up 8.8%. Exports to the US in particular were up 21.5% amid further tariffs threat to the pharmeceutical sector in April. So, the "growth" in both exports and trade (in turn GDP) seems to be driven by another round of frontloading to avoid a potential backlash from the tariffs threat before that was dropped in July.
This article was written by Justin Low at investinglive.com.提供 MainLink：Investinglive RSS Breaking News Feed
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