Swiss government sees GDP turning positive in Q3, recovery underway

ZURICH, Aug 27 (Reuters) - Switzerland’s COVID-19 battered economy will return to growth in the third quarter compared with the second quarter, a government economist told Reuters on Thursday, citing a better than expected recovery in recent weeks

“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,” said Ronald Indergand from the State Secretariat for Economic Affairs (SECO).

“The third quarter is going to be positive,” he added, after SECO reported the biggest quarterly downturn on record with an 8.2% drop in GDP during the second quarter.

Reporting by John Revill; editing by Brenna Hughes Neghaiwi