Drugs and energy help Swiss economy grow faster than expected in Q3

Swiss Steel Holding AG

28/11/2019 06:49

ZURICH, Nov 28 (Reuters) - The Swiss economy grew more
strongly than expected during the third quarter with exports
from the chemicals, pharmaceuticals and energy sectors helping
the country outpace the neighbouring Eurozone.
    Swiss economic output increased by 0.4% from the second
quarter, the State Secretariat for Economic Affairs (SECO) said
on Thursday, accelerating from a 0.3% rise in the second quarter
and ahead of the 0.2% level in Refinitiv estimates.
    The increase was faster than the 0.2% rate seen in the
Eurozone, Switzerland's biggest export market, which has been
struggling with trade friction, uncertainties over Britain's
departure from the European Union and a slowdown in Germany.
   Year on year, the Swiss economy grew by 1.1% during the third
quarter, up from the 0.2% rate in the second quarter and ahead
of the 0.8% forecast.

 (Reporting by John Revill, editing by Riham Alkousaa)
 ((John.Revill@thomsonreuters.com; +41 58306 7022; Reuters
Messaging: john.revill.thomsonreuters.com@reuters.net))