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Swiss GDP declines at record 40 years


September, 28 2020
watermark Economic news

According to the State Secretariat for Economic Affairs (SECO) of Switzerland, the country's GDP fell by 7.3% in the second quarter of this year. Such a decrease was recorded for the first time since 1980 – since the first calculation of quarterly indicators.


The indicator was revised downward, from -8.2%.


The department also clarifies that in the second quarter, aggregate demand decreased. Personal consumption has plummeted 8.1% due to the coronavirus pandemic and the measures taken to contain it. In addition, the export of goods decreased – by 6.5%, the export of services fell by 15.3%.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.