The Swiss economy stalled in the second quarter as the improvement in household spending was insufficient to offset the weakness in exports and investment in construction.
Gross domestic product remained flat from the first quarter, when it accelerated to 0.5 percent, the State Secretariat for Economic Affairs said Tuesday. Economists had expected GDP to rise 0.5 percent in the second quarter.
The expenditure side of GDP showed a small positive impetus coming only from household consumption. The balance of trade made a small negative contribution, while a neutral development in investment.
Household spending advanced 0.2 percent, faster than the 0.1 percent growth in the prior quarter. Meanwhile, government spending decreased for the second straight time. General government expenditure slid 0.3 percent, but it was slower than the 0.7 percent sharp fall seen in the first quarter.
Investment remained flat on weak construction activity, following first quarter's 0.2 percent increase. Exports and imports climbed 0.6 percent and 0.9 percent, respectively.