"The world economy in the second quarter was the worst in quite some time, and Japan is catching up now"
- Konstantin Giantiroglou, head of investment advisory at Neue Aargauer Bank
The number of employed people in Switzerland rose to 4.07 million in the second quarter of 2012 from 4.05 million in the first quarter, said the Federal Statistical Office on Tuesday.
Swiss stocks retreated on Tuesday after Catalonia asked for a bailout from the central government. The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies fell 1.08% to 6,421.42. The broader Swiss Performance Index declined to 5,931.78.
"The world economy in the second quarter was the worst in quite some time, and Japan is catching up now," said Konstantin Giantiroglou, head of investment advisory at Neue Aargauer Bank in Brugg, Switzerland.
"It's a reaction to what's going on and it was overdue that they correct the assessment."
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