Swiss output down in second quarter

Swiss output fell 0.1 percent in the second quarter compared to the previous three months as the strong Swiss franc hurt exports, the economy ministry said Tuesday.

Exports were down 0.7 percent during the period ending June, with a drop recorded in the chemical, machinery, equipment and electronics sectors.

Only watch, precision instrument and vehicle exports held up.

Imports were 0.5 percent weaker, due mainly to a fall in vehicle imports.

Compared to a year ago, second quarter gross domestic product was up 0.5 percent.

Meanwhile the ministry also cut its first quarter gross domestic product growth to 0.5 percent instead of the previously announced 0.7 percent.


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