World Economy

Swiss GDP Growth Stagnant

Swiss GDP Growth StagnantSwiss GDP Growth Stagnant

Switzerland’s economic activity stagnated in the third quarter as the strength in investment was offset by negative net trade, the State Secretariat for Economic Affairs said Friday, RTTnews reported. Gross domestic product was unchanged in the third quarter after expanding 0.6% a quarter ago. The economy was forecast to grow 0.3%. The expenditure side breakdown of GDP showed that consumption contributed very little to growth. While investment underpinned growth, net trade had a negative effect. Household spending gained 0.1%, while government expenditure dropped 0.1%. At the same time, equipment and software investment as well as construction investment climbed 0.5% each.

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