Latest data released by the State Secretariat for Economic Affairs - 29 November 2018
- Prior +0.7%
- GDP +2.4% vs +2.9% y/y expected
- Prior +3.4%; revised to +3.5%
That's a bit of an unexpected release as the Swiss economy contracts in Q3 2019. Looking at the details, exports and imports fell heavily on the quarter with the former declining by 4.2% q/q in Q3 notably. This bodes to worrying signs and will surely cause a bit of concern for the SNB as they look towards following the ECB in normalising monetary policy at the end of next year.
