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Swiss economy shows surprising growth in Q2

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Swiss economy shows surprising growth in Q2
The Swiss economy continues to show resilience. Photo: Mike Chapman
09:03 CEST+02:00
Domestic spending kept Switzerland's economy expanding in the second quarter as government figures released on Friday showed a surprise upturn in growth.

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.

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