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The State Secretariat for Economic Affairs (SECO) released its gross domestic product (GDP) data for Switzerland on Wednesday. Switzerland's GDP rose 0.1% in the first quarter, missing expectations for a 0.2% gain, after a 0.4% increase in the fourth quarter.
GDP was driven by a positive contribution from consumption expenditure from private households, investments in construction and equipment.
Exports of goods climbed 2.1% in the first quarter, while exports of services increased 2.0%.
Imports of goods climbed 0.4% in the first quarter, while imports of services were up 2.8%.
Household spending rose by 0.7% in the first quarter, government spending was down 0.8%, equipment spending slid 2.1%, while construction spending increased 1.1%.
On a yearly basis, Switzerland's economy grew at 0.7% in the first quarter, missing expectations for a 0.8% rise, after a 0.3% increase in the fourth quarter. The fourth quarter's figure was revised down from a 0.4% growth.
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