Growth of Swiss economy in the Q4 was well ahead of expectations as a rise of consumer purchasing power helped the economy to combat the problems caused by a strong Franc. GDP increased 0.2% from the Q3, when it was 0.6%. Consumer spending added 1.1%. The Swiss Franc is still 24% stronger in comparison to its value in September 2008.
"It's a positive sign in that other industrial countries went downhill toward year's end," said Alexander Koch, an economist at UniCredit SpA (UCG) in Munich. "If you look at the indicators the positive momentum should continue. We expect a slight acceleration in the course of the year."