Corrects third para
The Swiss economy remained stagnant in the second quarter after rebounding in the previous quarter as the rise in private consumption was offset by a decline in investments, data from the State Secretariat for Economic Affairs, or SECO, reported on Monday.
Gross domestic product stayed flat from the first quarter, when it expanded by 0.3 percent. Economists had expected a 0.1 percent rise for the June quarter.
GDP, adjusted for sports events, also logged a flat change after posting 0.9 percent growth in the March quarter.
The industry saw a decline in value added, while the service sector again grew at an above-average rate, data said.
On the expenditure side, private consumption grew 0.4 percent compared to the prior quarter, and government consumption showed an increase of 0.1 percent.
On the other hand, equipment and software investment dropped by 3.7 percent, and construction investment slid by 0.8 percent.
Exports of goods dropped 1.2 percent, while shipments of services rose 2.6 percent. Imports of goods fell markedly by 7.2 percent, while those of services gained 1.5 percent.
On a yearly basis, economic growth slowed to 0.5 percent from 1.5 percent. The rate came in line with expectations.
