Exports, port of Basel
Update 11:40 Bern, Switzerland (GenevaLunch) – Switzerland officially moved out of recession in the third quarter of 2009, Bern announced Tuesday 1 December. Real GDP (gross domestic product) was up 0.3 percent compared to the previous quarter. Private consumption (+0.6 percent) and building investments both grew, and healthcare plus the financial and insurance industries also rose. Investments were up “massively”, with industrial goods investments rising by 5.5 percent.
The government’s own “consumption expenditure” rose by 1.3 percent.
Exports of goods and services both climbed, by 2.2 and 0.3 percent respectively, for the first time “after a considerable one-year slide” the government statement reports.
India’s economy outperformed expectations in the third quarter of 2009, with 7.9 percent growth, its strongest in six quarters. The Bank of India has already begun to shift away from measures to boost the economy as its concern over inflation grows. The $1.2 trillion economy is expected to have year-end (31 March 2010) growth of 7 percent. India is one of the leaders in the rebound of its region’s economies as the “Asia Pacific region leads the world out of the worst recession since the 1930s”, writes Bloomberg.
Links to other sites: Bloomberg, The Economic Times, India
Swisscom sold 79,000 of the Apple iPhone 3GS model between its 19 June launch and the end of September 2009, according to industry media reports
Zurich, Switzerland (GenevaLunch) – Swisscom, Switzerland’s dominant telecommunications company, posted revenues of CHF8.92 billion Wednesday 11 November, a figure 1.8 percent below that for the same period a year earlier. Net income rose, however, by 16.6 percent to CHF1.31b, “on a par with the previous year”, says the company. The results were published just days after the company was fined CHF219 million, accused by Switzerland’s competition watchdog of earlier (2007) having a broadband pricing policy that hampered competition. The company, which once had a monopoly of the Swiss industry, has denied the charges. In today’s press release on the company’s results for the first nine months of the year it says that the weak Swiss market was responsible for the lower revenues.
Links to other sites: Swisscom, Trading Markets
