Open

Coming up

Don't miss

Replay


LATEST SHOWS

AFRICA NEWS

2014-07-11 21:47 AFRICA NEWS

Read more

MEDIAWATCH

Finally, a good use for new app "Yo"

Read more

THE WORLD THIS WEEK

The World This Week - 11 July 2014 (part 2)

Read more

THE WORLD THIS WEEK

The World This Week - 11 July 2014

Read more

REPORTERS

Exclusive: an unlikely victim of the 'War on Terror'

Read more

#THE 51%

Sweden: A Feminist's Paradise?

Read more

FRANCE IN FOCUS

Politics: parties under pressure

Read more

FOCUS

In Burma, the rise of radical Buddhism

Read more

ENCORE!

Haute Couture: the hand-stitched clothing made in Paris that sells for the price of small yachts

Read more

  • Amazon snubs French free delivery ban with one-cent charge

    Read more

  • Exclusive: an unlikely victim of the 'War on Terror'

    Read more

  • Netanyahu resists international pressure to stop air strikes on Gaza

    Read more

  • The third-place playoff: the World Cup game no one wants to play

    Read more

  • Suspect in Brussels Jewish Museum shooting drops extradition appeal

    Read more

  • Kurdish forces take over two oilfields in northern Iraq

    Read more

  • Are French high school students getting smarter?

    Read more

  • Italy’s Trentin wins seventh stage of Tour de France

    Read more

  • Disgraced Suarez leaves Liverpool for Barcelona

    Read more

  • In pictures: Chanel, Dior and so much more at the Paris couture shows

    Read more

  • French ‘Civic Service’ eyes massive expansion amid huge demand

    Read more

  • In Pictures: Petrol station hit by Hamas rockets

    Read more

  • Manhunt as FIFA partner flees Rio hotel to avoid arrest

    Read more

  • Video: Palestinians fear full Israeli military offensive in Gaza

    Read more

  • Ukrainian forces close in on Donetsk

    Read more

Business

Now it's Switzerland's turn to enter recession

©

Latest update : 2009-06-02

Switzerland posted a 0.8% drop in its GDP in the first quarter after it had shrunk 0.3% in the last quarter of 2008, according to government data, meaning the country has officially entered a recession.

AFP - Switzerland officially entered a recession in the first quarter when its economy shrank by 0.8 percent compared to the previous three months, government data showed Tuesday.
  
The country's gross domestic product (GDP) had shrunk by 0.3 percent in the last quarter of 2008, according to the data from the economy ministry. A recession is defined as two quarters of GDP contraction in a row.
  
"Negative pressures came mainly from foreign trade," with exports down 5.4 percent, the ministry said in a statement.
  
On a 12-month comparison, Swiss GDP fell even more sharply, down 2.4 percent in the first quarter compared to the same period in 2008. Analysts had forecast a 12-month contraction of up to two percent, according to finance agency AWP.

Date created : 2009-06-02

Comments

COMMENT(S)