03.12.2014 - GDP data for the Switzerland cheered investors
Swiss GDP in the 3rd quarter of this year showed an increase. Thus, in this period the economy grew by 0.6% compared to Q2. It should be noted that the figure was 2 times higher than analysts' expectations. Compared to the same period of the last year, GDP grew by 1.9%. The main drivers of growth were the increase in exports of goods and services, as well as increase the level of public and private spending. Swiss National Bank expects growth in the economy this year by 1.5%. We forecast the stability of the Swiss franc in the long term against the euro and decline against the dollar.