Switzerland Q2 GDP reading now out 5 Sept
- 0.1% prev revised down from 0.3%
- yy 0.3% vs 1.1% exp vs 0.6% prev revised down from 1.1%
A soggy report all round with the negative trade balance reducing the impact of domestic spending.
Say stats office SECO:
"Overall the contribution of the trade balance in good and services to GDP growth in Q2 was negative.Exports of goods recorded only a slight but broad-based increase yet imports of goods rose sharply largely driven by considerable growth in imports of chemical and pharmaceutical products."
Swiss CPI for August out at 07.15 GMT
USDCHF 0.9557 and EURCHF 1.1377 unfazed by the data but still undermined by CHF safe-haven demand.
