Swiss Economy Unexpectedly Shrinks After Strong Franc Stifles Exports
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Switzerland’s economy contracted the most in six years as the strong franc took its toll on exports.
Gross domestic product fell 0.2 percent in the first quarter, after a revised growth of 0.5 percent in the previous three months, the State Secretariat for Economic Affairs in Bern said in a statement on Friday. The contraction is the biggest since early 2009 and missed the median economist forecast for stagnation.