What was the Swiss GDP growth rate in Q2 2024, and how did it compare to analyst expectations?

Swiss GDP adjusted for large sport events rose 1.5% in the second quarter from the previous three months, according to a flash estimate — far exceeding the Bloomberg survey consensus, which predicted growth would slow to 0.3% from 0.4% at the start of the year.

Which sectors were primarily responsible for the unexpectedly strong Swiss economic growth in Q2 2024?

Pharmaceuticals and chemicals drove a strong performance in the industrial sector, while the services sector — including hospitality and finance — also expanded, as stated by the State Secretariat for Economic Affairs.

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