Swiss GDP Growth Slows to 0.2% in Q3

Switzerland’s economy grew at the slowest pace in more than two years in the third quarter as companies cut spending and exports slumped.

Gross domestic product rose 0.2 percent from the second quarter, when it increased 0.5 percent. That’s the slowest pace since the second quarter of 2009. Exports of goods and services fell 1.2 percent and investment including construction slipped 1 percent.

In the year, the economy expanded 1.3 percent, down from 2.2 percent in the second quarter, today’s report showed. The state secretariat had previously reported a second-quarter expansion of 0.4 percent from the first quarter.

Private consumption spending gained 0.1 percent in the third quarter, unchanged from the previous three months, today’s report showed. Imports fell 0.2 percent from the second quarter, when they declined 0.7 percent., Bloomberg
12/1/2011 1:42:47 PM