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Second-quarter figures show steady growth of Swiss economy

Switzerland’s Gross Domestic Product – the indicator of the total value of goods produced and services provided – rose to 1.2 percent for the second quarter, signalling a steady recovery of the economy after last year’s sluggish winter season.

This content was published on September 16, 1999 - 12:39

Switzerland’s Gross Domestic Product – the indicator of the total value of goods produced and services provided – rose to 1.2 percent for the second quarter, signalling a steady recovery of the economy after last year’s sluggish winter season.

Experts welcomed the latest figures, which were released by the Swiss Economics Ministry Thursday.

“The numbers are not spectacular but they are good news,” commented economic analyst Max Zumstein, adding that the data reflected a slight acceleration of economic growth.
The construction industry and Swiss exports provided a major boost in the second quarter, according to the sector-by-sector breakdown.

Exports went up by 6.1 percent to reach the highest level in the last 18 months.

Consumer spending also increased, although at a much slower pace than last year. But the ministry played down the 0.8 percent increase, saying consumer spending was at a high level already.

Inflation was forecast to stay at about 0.5 percent and consumers could expect continued price stability, officials said.

From staff and wire reports.

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