Economics
Swiss Outlook at Risk After Surprise GDP Drop: Economy
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Swiss government officials and economic forecasters may cut their predictions for growth this year after gross domestic product unexpectedly fell in the second quarter.
The BAK Basel Institute, Bank Sarasin, Zuercher Kantonalbank, UBS AG and the State Secretariat for Economic Affairs might lower their 2012 forecasts after a government report today showed that GDP fell 0.1 percent from the first quarter, when it rose 0.5 percent, less than the 0.7 percent previously reported. That’s the first drop since the third quarter of 2011, when the Swiss National Bank imposed a franc ceiling to help protect the economy.