FINWIRES · TerminalLIVE
FINWIRES

Switzerland's Final Quarterly GDP Rises 0.4% in Q1

By

Switzerland's seasonally and sporting event-adjusted gross domestic product increased 0.4% in the first quarter, following a 0.2% uptick in the previous quarter, data from the State Secretariat for Economic Affairs showed Monday.

The final reading was below the flash estimate of a 0.5% gain. Not adjusted for sports events, the quarterly GDP was 0.7% higher, against the revised 0.2% increase in the prior three-month period.

On a yearly basis, the sport event-adjusted GDP climbed 0.3% during the three-month period, against the revised 1.1% gain earlier. Not adjusted for sports events, Swiss GDP increased 0.5%, following the prior revised 1% rise.

Related Articles

International

Philippines, Vietnam Reaffirm Stability, Adherence to International Law

Philippines and Vietnam have deepened their relationship to an enhanced strategic partnership during a state visit by Vietnamese leader To Lam to Manila, according to the Office of the President, Philippines.Both sides stressed shared commitment to maintaining peace, stability and a rules-based regional order anchored in international law.Philippine President Ferdinand Marcos Jr said the upgraded ties reflect stronger political and defence cooperation, as well as deeper economic, cultural and people-to-people linkages, noting Vietnam remains the Philippines' sole strategic partner in Southeast Asia.Both countries highlighted expanding collaboration across defence, agriculture, tourism, education and cultural exchanges, with bilateral trade now exceeding $7 billion, as they seek to broaden cooperation amid global uncertainty.

$^HNX$^HOSE$^PSEi
International

Swiss Monthly Retail Sales Up 0.1% in April

Retail sales in Switzerland rose 0.1% month over month in real terms in April, after a revised 0.3% gain in March, the country's Federal Statistical Office said Monday.On a yearly basis, seasonally adjusted retail sales were 1.6% higher, compared with the revised 1.3% jump earlier and the consensus estimate of a 0.2% growth.

$^SSMI
International

US, Vietnam Vow to Avoid Currency Manipulation Under IMF Rules

The United States Treasury and the State Bank of Vietnam agreed to continue close policy consultations, reaffirming under IMF rules that neither nation will manipulate exchange rates or the international monetary system for competitive advantage, according to a joint statement on Friday.They also stressed that macroprudential tools, capital flow measures and sovereign investment activities must not be used to target currency levels, while FX intervention may be applied only to manage volatility and support macroeconomic stability.The two sides highlighted the importance of transparency in exchange rate policy. Vietnam's central bank committed to publishing annual data on net FX purchases, reserves and forward positions in line with IMF standards starting in 2027.

$^HNX$^HOSE