2024-08-15 13:03:47
Summary published by SECO on August 15, 2024: GDP preview for the second quarter of 2024: Swiss economic growth slightly above average
Moderate GDP growth
According to the preliminary quarterly real GDP (Flash GDP) estimates published by the State Secretariat for Economic Affairs (SECO), the Swiss economy grew by 0.5% in the second quarter of 2024, slightly above average. This performance was mainly due to the positive contribution of industry and the good development of the services sector.
Estimation Method
The “flash” estimate is produced approximately 45 days after the end of the quarter and is based on preliminary data from the production method of GDP. Final results are released approximately 60 days after the end of each quarter, which may change the initial estimate.
The impact of cooperation on the consumer environment
The latest data shows that consumer confidence in July 2024 was -32 points, better than -37 points in July 2023. Sub-indices such as the overall economic situation and future financial conditions have all shown improvements, indicating that consumer confidence has become more resilient. This positive trend can also promote economic growth by stimulating private consumption.
Risks and uncertainties
Despite the improvements, the report highlights the potential risk of an economic slowdown related to geopolitical uncertainties and international market tensions. Cross-sector collaboration and improved regulatory structures remain critical to addressing current economic challenges and achieving long-term growth goals.
Therefore, despite the encouraging data on the Swiss economy, it remains necessary to remain vigilant in the face of external uncertainties and market volatility, which means that economic strategies need to be constantly adjusted.
source: PIB Flash (admin.ch)
Image source: Travel to the sea 5 pass Depositphotos
1723833172
#GDP #preview #quarter #Swiss #economic #growth #slightly #average
