Swiss GDP Remains Flat In Q3
BRUSSELS (dpa-AFX) - Switzerland's economic growth remained flat in the third quarter as increase in investment was offset by net trade, the State Secretariat for Economic Affairs said Friday.
Gross domestic product registered nil growth in third quarter after expanding 0.6 percent a quarter ago. The economy was forecast to grow 0.3 percent.
On the expenditure side, household spending gained 0.1 percent, while government expenditure dropped 0.1 percent.
Equipment and software investment as well as construction investment climbed 0.5 percent each.
Meanwhile, exports of goods dropped 0.2 percent and that of services slid 0.8 percent. On the other hand, imports of goods rose 0.2 percent and services import remained flat.
Year-on-year, GDP growth eased to 1.3 percent from 2 percent in the second quarter. The annual rate was also weaker than the expected 1.8 percent expansion.
Copyright RTT News/dpa-AFX