Economic growth expected to slow
One of the leading indicators of the Swiss economy has signalled that growth will continue to slow down in the second half of the year.
The Business Cycle Research Institute of the Federal Institute of Technology in Zurich said its indicator for June fell to 0.01 points from a revised 0.13 in May.
A statement from the Institute on Friday said that the lower reading for the indicator reflected a slight reduction in new orders for the first time in two years.
It added that there had been a reduction in overall order books because the rate of production was still increasing, signalling that a slowdown would eventually occur.
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