GENEVA: The economy unexpectedly lost pace at the start of the year, as government consumption contracted. GDP increased just 0.1 percent in the first quarter from the previous three months, when it expanded 0.4 percent, the State Secretariat for Economic Affairs in Bern said yesterday.
Private consumption grew 0.7 percent compared with the fourth quarter, the data showed. Government expenditure decreased by 0.8 percent and exports of goods rose by 2.1 percent.
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