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Bern, Switzerland (GenevaLunch) – Switzerland’s gross domestic product (GDP) fell by 0.8 percent in the first three months of 2009 compared to the last quarter of 2008. The drop was 2.4 percent compared to the same period in 2008. Foreign trade was the main culprit, says the federal government: exports of goods fells by 6.6 percent and of services by 2.3 percent.

Clothing, furniture, transport, construction, and financial and insurance services all declined. One bright spot: hotels and restaurants had a slight increase in value-added.

Posted by Ellen Wallace on 2 June 2009 at 10:00, last updated on 3 June 2009 at 17:20 | permalink
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This work by genevalunch.com is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.
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News story, GenevaLunch, 2 June 2009.

Filed under: Business

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Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported
This work by genevalunch.com is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported.