Investing.com – Switzerland’s economy grew at a faster pace than expected in the second quarter of 2010, official data showed on Thursday.
In a report, Switzerland’s Federal Statistical Office said the country’s gross domestic product increased a seasonally adjusted 0.9% in the second quarter, compared to growth of 1.0% in the first quarter, whose figure was revised up from 0.4%.
Analysts had expected Switzerland’s gross domestic product to grow by 0.8% in the second quarter.
The report also showed that year-on-year, annualized seasonally adjusted GDP grew 3.4% in the second quarter, after expanding 2.3% in the first quarter.
Analysts had expected annualized real GDP to grow 2.6% in the second quarter.
The data primarily reflected increased levels of domestic demand and higher rates of investment activity during the second quarter.
Following the release of the data, the Swiss franc was up against the U.S. dollar, with USD/CHF shedding 0.40% to hit 1.0116.
In a report, Switzerland’s Federal Statistical Office said the country’s gross domestic product increased a seasonally adjusted 0.9% in the second quarter, compared to growth of 1.0% in the first quarter, whose figure was revised up from 0.4%.
Analysts had expected Switzerland’s gross domestic product to grow by 0.8% in the second quarter.
The report also showed that year-on-year, annualized seasonally adjusted GDP grew 3.4% in the second quarter, after expanding 2.3% in the first quarter.
Analysts had expected annualized real GDP to grow 2.6% in the second quarter.
The data primarily reflected increased levels of domestic demand and higher rates of investment activity during the second quarter.
Following the release of the data, the Swiss franc was up against the U.S. dollar, with USD/CHF shedding 0.40% to hit 1.0116.