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Swiss GDP Expands as Private Spending Offsets Strong Franc
Switzerland's economy grew in the second quarter as solid private and government spending offset the impact of the strong Swiss franc on foreign demand for the country's goods, data released Friday showed. Gross domestic product in the three months through June rose 0.2% from the previous quarter and was 1.2% higher on the year, the Federal Department of Economic Affairs, Education and Research said. The result was above economists' expectations for a quarterly contraction of 0.1% and annual expansion of 0.8%. Switzerland's economy grew in the second quarter as solid private and government spending offset the impact ... (full story)