Economy continues to grow but slowly
The Swiss economy is still growing, but at a slower rate than before, according to official figures published on Thursday.
The State Secretariat for Economic Affairs said Gross Domestic Product grew two per cent in the third quarter, down from 2.8 per cent in the second. But compared to the same period last year, growth was up by 3.6 per cent.
The figures were at the higher end of expectations, and as a result the government has revised its estimates of future economic growth. It now expects annual growth of 3.3 per cent this year, and 2.3 per cent next year.
Aymo Brunetti, an economist at the Economic Affairs Secretariat, said the economy was growing at the desired level. He said there was no danger of the economic upturn coming to an abrupt end.
Analysts attribute the continuing improvement in the economy to high consumer spending, investment and strong exports. Exports went up seven per cent between July and September.
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