ZURICH, May 31. Switzerland's GDP growth in the 1 st quarter slowed, although exports of machinery and electrical products continued to neutralize the growth of the Swiss franc. This was pointed out on Tuesday the data of the State Secretariat for Economic Affairs.According to the Secretariat, the Swiss economy has grown in the 1 st quarter by 0,3% compared with the previous quarter and by 2.4% over the same period last year. These results fell short of economists had forecast quarterly growth at 0.6% and year - by 3,0%.
In the 4 th quarter Swiss economy grew by 0,8% compared with the previous quarter and by 3.1% over the same period last year.
Strong domestic consumer demand due to the demand for housing and health care costs, and strong exports were the main engines of economic growth in the 1 st quarter.
Slower growth in the 1 st quarter against the recent increase in trade flows in Switzerland, as well as a stronger than expected, leading indicator KOF.
Board member of the Swiss National Bank President Jean-Pierre Dante said this month that the economy of Switzerland is well developed, which is shown by the strong Swiss franc.
Nevertheless, most market watchers do not think the Swiss National Bank raised a key rate from 0.25% to mid-September meeting due to the continued strength franc against the euro and the dollar.
