Investing.com – Switzerland’s economy expanded in line with expectations in the third quarter of 2011, official data showed on Thursday.
In a report, Switzerland’s Federal Statistical Office said the country’s gross domestic product increased in line with expectations by a seasonally adjusted 0.2% in the third quarter, compared to growth of 0.5% in the preceding quarter, whose figure was revised up from 0.4%.
Switzerland’s economy grew at an annualized rate of 1.3% in the three months to September, above expectations for a 1.8% increase, after rising by 2.2% in the preceding quarter.
Positive growth impulses were generated by private and government consumption as well as by construction investments. By contrast, declining exports and fixed assets investments had a negative impact on GDP growth.
On the production side, domestic oriented sectors contributed to growth, while the value added from industry shrank.
Following the release of the data, the Swiss franc was fractionally lower against the U.S. dollar, with USD/CHF easing up 0.03% to hit 0.9135.
In a report, Switzerland’s Federal Statistical Office said the country’s gross domestic product increased in line with expectations by a seasonally adjusted 0.2% in the third quarter, compared to growth of 0.5% in the preceding quarter, whose figure was revised up from 0.4%.
Switzerland’s economy grew at an annualized rate of 1.3% in the three months to September, above expectations for a 1.8% increase, after rising by 2.2% in the preceding quarter.
Positive growth impulses were generated by private and government consumption as well as by construction investments. By contrast, declining exports and fixed assets investments had a negative impact on GDP growth.
On the production side, domestic oriented sectors contributed to growth, while the value added from industry shrank.
Following the release of the data, the Swiss franc was fractionally lower against the U.S. dollar, with USD/CHF easing up 0.03% to hit 0.9135.