Westhill Consulting Reviews Swiss Economy Expands...
Posted in the Top Stories in the Blogosphere Forum
Since: Jun 13
#1 Jun 3, 2013
Westhill Consulting Reviews Swiss Economy Expands More Than Forecast on Consumption
Switzerlands economy expanded more than forecast in the first quarter, with consumer spending helping it perform better than the neighboring euro area.
Gross domestic product rose 0.6 percent from the fourth quarter, when it advanced by a revised 0.3 percent, the State Secretariat for Economic Affairs in Bern said in a statement today. Economists predicted a rise of 0.2 quarter-on-quarter, the median of 19 estimates in a Bloomberg News survey showed.
We expected half that growth, said Cornelia Luchsinger, an economist at Zuercher Kantonalbank.Its a positive surprise.
Since: Jun 13
#2 Jun 3, 2013
The Swiss National Bank (SNBN) set a cap of 1.20 per euro on the franc in 2011 to ward off deflation and a recession. Along with consumer demand, that ceiling has helped shield Switzerland from the six quarters of recession that have afflicted the euro area, the destination for nearly half its exports. Germany, the blocs largest economy, expanded only 0.1 percent in the first quarter.
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