The Financial Express

Swiss government sees GDP turning positive in Q3, recovery underway

| Updated: August 29, 2020 17:44:46

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File photo used for representational purpose only File photo used for representational purpose only

Switzerland’s COVID-19 battered economy will return to growth in the third quarter (Q3) compared with the second quarter, a government economist said on Thursday, citing a better than expected recovery in recent weeks

“We can say so far, the lowest point is behind us, that was in April. Since then in May, June, July and August the economy was recovering. It is still recovering despite an increase in Covid-19 cases recently,” said Ronald Indergand from the State Secretariat for Economic Affairs (SECO).

“The third quarter is going to be positive,” he added, after SECO reported the biggest quarterly downturn on record with an 8.2 per cent drop in GDP during the second quarter.

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