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The State Secretariat for Economic Affairs (SECO) released its gross domestic product (GDP) data for Switzerland on Tuesday. Switzerland's GDP was flat in the third quarter, missing expectations for a 0.2% rise, after a 0.2% increase in the second quarter.
GDP was driven by a positive contribution from household spending and the balance of trade in goods, while the balance of trade in services had a negative impact.
Exports of goods climbed 1.1% in the third quarter, while exports of services decreased 0.3%.
Imports of goods were flat in the third quarter, while imports of services were up 0.6%.
Household spending climbed by 0.4% in the third quarter, public spending was up 1.8%, equipment and software spending rose 0.2%, while construction spending decreased 0.9%.
On a yearly basis, Switzerland's economy grew at 0.8% in the third quarter, missing expectations for a 0.9% rise, after a 0.9% increase in the second quarter. The second quarter's figure was revised down from a 1.2% gain.
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