Swiss GDP declines at record 40 years

According to the State Secretariat for Economic Affairs (SECO) of Switzerland, the country's GDP fell by 7.3% in the second quarter of this year. Such a decrease was recorded for the first time since 1980 – since the first calculation of quarterly indicators.

The indicator was revised downward, from -8.2%.

The department also clarifies that in the second quarter, aggregate demand decreased. Personal consumption has plummeted 8.1% due to the coronavirus pandemic and the measures taken to contain it. In addition, the export of goods decreased – by 6.5%, the export of services fell by 15.3%.