Switzerland's GDP adjusted for sporting events rose by 0.5% in the first quarter of 2023, following 0.0% growth in the fourth quarter of 2022.1 Domestic demand proved robust. Along with rising goods exports, manufacturing also registered a slight increase. Growth in domestic final demand (+0.9%) was stronger in the first quarter than the historical average. Government consumption (+0.0%) stagnated, but private consumption (+0.6%) recorded substantial growth. In particular, there was a significant increase in consumer spending on services, such as mobility and tourism. Buoyed by the continued recovery in travel, value ... (full story)

The Swiss economy grew by more than expected in Q1, supported by domestic demand and rising exports mostly. Consumer spending increased by 0.6% on the quarter and the recovery in the travel sector has played a main part in that. (full story)