Reported 4 months ago
Switzerland's economy unexpectedly maintained momentum at the beginning of the year, driven by services and private consumption, despite concerns about struggling exporters. The gross domestic product grew by 0.3% compared to the previous quarter, surpassing the government's initial estimate of 0.2%, with private consumption expanding by 0.4%. While manufacturing showed a slight decline, the services sector was the main driver of GDP growth. The Swiss National Bank's monetary policy stance and a declining franc against the euro may help boost exports, although the SNB anticipates modest growth in the upcoming quarters.
Source: YAHOO