Since 2008, the CREA Institute has been calculating quarterly GDP figures for Swiss cantons and cities such as Zurich. This key indicator measures the short-term strength of local economic activity, enabling economic and political decision-makers to better understand the economic environment in which they operate. The estimation method initially developed by CREA in 2008 was completely revised in 2022. The long-term objective is to take into account the climatic cost of economic activity in order to draw up a green GDP at the cantonal level.

In its current version, the calculation of a canton's or city's quarterly GDP is carried out in several stages. The first step involves estimating the cantonal gross value added (GVA) of over eighty industries in nominal terms on an annual basis. This industry-specific estimate is based on cantonal labor productivity multiplied by the number of full-time equivalent employees. These initial results are then calibrated to ensure compatibility with the national accounts at cantonal and Swiss levels. This procedure can be adapted to obtain a city's annual nominal GDP. The second step consists in expressing annual industry-specific GVA estimates at the quarterly frequency, using reference indicator series. In the third stage, these quarterly and annual results are expressed in real terms. They can also be corrected for seasonal and calendar influences, as well as the effects of major sporting events.

The CREA methodology offers a number of key advantages. Firstly, it enables us to calculate the quarterly GDP of a canton or city over a long period, going back to the first quarter of 1997. It also makes it possible to obtain a new value each quarter with a minimum delay of two and a half months. For example, cantonal GDP for the first quarter of the year can be estimated in mid-June. Finally, a time series of cantonal GVA for a large number of sectors and sub-sectors can be generated over a long period. For example, the CREA methodology can be used to calculate the cantonal GVA of the pharmaceutical, retail and watchmaking industries since the first quarter of 1997.

CREA has been commissioned to estimate industry-specific GVA and GDP for the cantons of Fribourg and Geneva, as well as for the city of Zurich, on a quarterly basis. Data by sector and sub-sector are available for other Swiss cantons and cities.