Swiss economy grew 0.9 percent in second quarter; domestic demand made up for export slump

Swiss economy grew 0.9 percent in second quarter

GENEVA — Official figures show that Switzerland’s economy grew by 0.9 percent in the second quarter compared with the first three months of the year, largely on the back of higher domestic demand and corporate investments.

The State Secretariat for Economic Affairs says Switzerland’s gross domestic product was 3.4 percent higher in the April-June period than at the height of the recession during the same quarter last year.

However, the government says Thursday that exports suffered as the Swiss franc continues to rise against the euro, which is used by most of Switzerland’s major trading partners.