Swiss Govt Economist Sees GDP turning positive in Q3, recovery now underway

Ronald Indergand, Economist at the State Secretariat for Economic Affairs (SECO) told Reuters on Thursday, Switzerland's coronavirus-battered economy is likely to see an upturn in the third quarter, as the recovery gets underway.

Key quotes

"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."

"The third quarter is going to be positive.”

The SECO reported the biggest quarterly downturn on record with an 8.2% drop in GDP during the second quarter.