Swiss GDP contracted -8.2% qoq in Q2, slightly better than expectation of -8.7% qoq. That’s the biggest decline since records of quarterly data began in 1980. Comparing to Q4 2019, before the pandemic, GDP slumped by a total of -10.5% in H1 2020. SEO said, “domestic economic activity was severely restricted in the wake of the pandemic and the measures taken to contain it”. But Swiss GDP decline remains “limited” in an international comparison.
