Swiss second quarter GDP drop restated to 7.3% after benchmark revision

ZURICH (Reuters) - Benchmark revisions to Swiss gross domestic product data released on Monday showed gross domestic product contracted 7.3% in the second quarter, less than the 8.2% real quarterly drop originally reported.

Government agencies made the benchmark revisions for the period spanning 1980 to 2020 and are now publishing more detailed quarterly data on value added in trade and industry.

“The interpretation of this data from an economic perspective is remaining largely unchanged,” the government said in a statement.

Even with the revision, second-quarter Swiss GDP experienced its sharpest decline since the quarterly figures were first calculated in 1980.

Reporting by Michael Shields; Editing by Thomas Seythal and Tomasz Janowski