"We expect GDP in France and Germany to have shrunk by 0.3% and 0.1%, respectively"
- Capital Economics
Swiss stocks extended losses on Monday ahead of release of France and German GDP figures on Tuesday.
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies erased 0.27%, or 17.26, to 6,466.18. The broader Swiss Performance Index retreated 0.32%, or 19.28 points, to 5,975.09.
"We expect GDP in France and Germany to have shrunk by 0.3% and 0.1%, respectively," Capital Economics warned.
"Based on this, we have penciled in a 0.4% quarterly fall in the region as whole. And with the business surveys still at low levels, there may be worse to come in the second half of the year."
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