Gross domestic product in the first quarter of 2021: recovery of the domestic economy interrupted
Switzerland’s GDP fell by 0.5 % after growing by 0.1 % in the 4th quarter. Value added dropped significantly in the service sector following the tightening of measures designed to contain the coronavirus pandemic. Private consumption also contracted sharply. By contrast, industry grew markedly and prevented a greater decline in GDP. There was no repeat of the economic slump experienced in spring 2020.