Swiss GDP Growth Slows to 0.4% In Q2

Swiss gross domestic product grew 0.4% quarter-on-quarter in the second quarter following a revised 0.6 % rise in the first three months of 2011, data from the State Secretariat for Economic Affairs, showed on September 1.

On an annual basis, GDP expanded 2.3%, after a revised 2.5% growth in the first quarter.

The expansion was hurt by a strong Swiss franc. Exports declined 1.3% quarter-on-quarter in the second quarter, partly reversing the first quarter's 3.4% gain. Investment declined 2%.

Total imports also fell during the period, declining by 1.7% sequentially after an increase of 1.8% in the previous period.

Domestic demand bounced back, growing 0.4% after 0.4% drop in the first quarter. Consumer spending rose at a faster pace of 0.2%.

Swiss GDP Growth Slows to 0.4% In Q2, SECO
9/1/2011 11:38:54 AM