(RTTNews) - Switzerland's economic growth slowed in the first three months of this year, figures released by the State Secretariat for Economic Affairs, or SECO, showed Tuesday.
Gross domestic product, or GDP, rose 0.4% sequentially in the first quarter. Economists had forecast 0.7% growth. Meanwhile, SECO revised up fourth quarter GDP figure to 0.9% from 0.7% reported earlier.
Final consumption expenditure rose at a slower pace of 0.2% compared with fourth quarter's 0.6% growth, of which expenditure by households and non-profit institutions increased 0.5%, while general government expenditure dropped 1.4%.
Investment fell 0.8%, reversing 1.4% growth in the previous quarter. Exports of goods and services increased 4.8% and imports of those climbed 2.5%.
On an annual basis, GDP growth accelerated to 2.2% from fourth quarter's 0.6%. Economic growth topped forecast for 1.8% expansion.
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