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Financial News: Swiss GDP Growth Eases In Q2

Swiss GDP Growth Eases In Q2

09/05/2019 - 01:59:00 (RTTNews)

(RTTNews) - Switzerland's economic growth eased in the second quarter on weak exports, data from the State Secretariat for Economic Affairs, or SECO, showed Thursday.

Gross domestic product advanced 0.3 percent sequentially in the second quarter, following a revised 0.4 percent expansion seen in the first quarter. Growth was forecast to slow to 0.2 percent.

On a yearly basis, economic growth eased to 0.2 percent from 1 percent in the first quarter. Economists had forecast an annual growth of 0.9 percent.

The expenditure-side breakdown of GDP revealed a 0.3 percent rise in private consumption and a 0.1 percent increase in government spending.

Investment in construction was down 0.1 percent on quarter. Finally, investment in equipment logged a decrease of 1.0 percent. Exports of goods dropped 0.8 percent and imports of goods declined 1.7 percent. At the same time, exports of services slid 0.2 percent, while imports of services advanced 1.5 percent.

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