Swiss economy shows surprising growth in Q2
AFP/The Local · 28 Aug 2015, 09:03
Published: 28 Aug 2015 09:03 GMT+02:00
- Experts cut Swiss economic growth outlook (16 Jun 15)
- Strong franc hammers Swiss economy in Q1 (29 May 15)
- Swiss economy beats forecasts for 2014 (03 Mar 15)
The country’s gross domestic product expanded 1.2 percent in real terms from the same period a year earlier and by 0.2 percent from the first quarter, the State Secretariat for Economic Affairs (Seco) said in a report.
Household spending and expenditures by non-profit institutions serving households rose 0.3 percent from the previous quarter, Seco said.
General government spending also rose by 0.2 percent, the report said.
Exports of goods rose slightly while imports declined boosting the country’s balance of trade in goods, Seco said.
This was offset by a decline in the balance of services.
The figures defied predictions of economic forecasters who warned that the Swiss economy was flirting with recession after real growth in the first quarter slipped by 0.2 percent from the fourth quarter of 2014.