Swiss output expands on domestic demand

2nd September 2010, Comments 0 comments

Swiss second quarter output expanded 3.4 percent compared to the same period last year, lifted mainly by internal demand, the Swiss economics ministry said Thursday.

"GDP growth was primarily the product of domestic demand," the Secretariat for Economic Affairs said in a statement, noting that external demand had "softened over the course of the year."

Compared to the previous quarter, gross domestic product expanded 0.9 percent.

Investments were up 2.1 percent compared to the previous quarter, showing particularly strong growth in the metal working and mechanical engineering industries.

Exports were up 1.7 percent from the previous three months, with goods exports expanding just 0.1 percent, while services exports grew 5.3 percent.

© 2010 AFP

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