By Brian Blackstone
ZURICH--Switzerland's economy stalled in the third quarter, as sluggish consumption and weak trade kept a lid on economic activity.
Gross domestic product was unchanged from the previous quarter and up 1.3% from a year earlier, the economic affairs ministry said Friday. The year-on-year growth rate was below analysts' forecasts of 1.8% growth.
Consumption increased 0.1% on the quarter. Exports of goods, excluding valuables, fell 0.2%, driven by weakness in precision tools, watches and jewelry, the ministry said.
The GDP report will likely keep pressure on the Swiss National Bank to continue in its efforts to weaken the Swiss franc.
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(END) Dow Jones Newswires
December 02, 2016 02:14 ET (07:14 GMT)
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