News Content
Swiss GDP up 0.1pc as exports lead what little growth there is
SWITZERLAND's GDP slowed to 0.1 per cent growth in the first quarter on the back of a 0.8 per cent contraction in government spending, according to government statistics.
The economy has been floundering on the strong currency undermining exports and expansion, while demand has been underpinned by domestic consumption, reported Bloomberg.
Although, the franc has depreciated 1.5 per cent against the euro this year.
In the first quarter exports of goods increases 2.1 per cent. "On the production side, the picture was mixed. Whilst financial services and the hotel and catering industry saw a decline, value added in manufacturing, construction and the health-care sector increased," the State Secretariat for Economic Affairs (SECO) said in a statement.
The economy has been floundering on the strong currency undermining exports and expansion, while demand has been underpinned by domestic consumption, reported Bloomberg.
Although, the franc has depreciated 1.5 per cent against the euro this year.
In the first quarter exports of goods increases 2.1 per cent. "On the production side, the picture was mixed. Whilst financial services and the hotel and catering industry saw a decline, value added in manufacturing, construction and the health-care sector increased," the State Secretariat for Economic Affairs (SECO) said in a statement.
Latest News
- For the first time, tianjin Port realized the whole process of dock operati...
- From January to August, piracy incidents in Asia increased by 38%!The situa...
- Quasi-conference TSA closes as role redundant in mega merger world
- Singapore says TPP, born again as CPTPP, is now headed for adoption
- Antwerp posts 5th record year with boxes up 4.3pc to 10 million TEU
- Savannah lifts record 4 million TEU in '17 as it deepens port
