Swiss National Bank - Annual Report 2005

According to the Swiss National Bank's Annual Report 2005, at the beginning of the year, the Swiss economy showed signs of weakness.

Exports of goods declined and capacity utilisation in manufacturing dipped. Surveys of the economic situation increasingly reflected corporate diffidence about short-term movements in demand. Moreover, difficult weather conditions held back construction. In an initial estimate, seco projected GDP growth of an annualised 0.2% in the first quarter of 2005.

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