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Swiss economic growth disappoints in Q2
(MENAFN) Swiss economic progress surprisingly slowed in the Apr-June period on the back of weak performance in the energy, construction and financial division.
In detail, state officials explained that the output was unaffected in the three months through June, after an increase of 0.2 percent in the preceding quarter.
However, household consumption and that of non-profit organizations logged growth of 0.4 percent in the 2nd quarter as opposed to the prior three months.
"Fears that the economy would collapse after the franc's appreciation haven't proved true, fewer jobs were cut than expected," said the Swiss National Bank's president.
In detail, state officials explained that the output was unaffected in the three months through June, after an increase of 0.2 percent in the preceding quarter.
However, household consumption and that of non-profit organizations logged growth of 0.4 percent in the 2nd quarter as opposed to the prior three months.
"Fears that the economy would collapse after the franc's appreciation haven't proved true, fewer jobs were cut than expected," said the Swiss National Bank's president.
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