SNB Franc Shield Reaps Reward of Growth Defying Euro Area

Switzerland’s economy defied the recession that afflicted its neighbors to notch up a year of uninterrupted growth, underlining the importance of the country’s currency ceiling as it marks its second anniversary.

Swiss gross domestic product rose 0.5 percent in the second quarter from three months through March, when it expanded by 0.6 percent, the Secretariat for Economic Affairs in Bern said in a statement today. That is more than a median estimate of 0.3 percent in a Bloomberg survey of 18 economists.