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Swiss First-Quarter GDP Rises 2.4% Year-On-Year

Switzerland's first quarter gross domestic product grew a real (or inflation-adjusted) 0.8% from the fourth quarter of last year and increased a 2.4% year-on-year, the Swiss state secretariat for economic affairs (SECO) said.

The country's real gross domestic product rise was driven by consumer spending and robust exports, SECO said.

Economists polled by Thomson Financial News had forecast 0.5-0.9% rise from the previous quarter and a year-on-year rise of 2.0-2.5%.