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"[Swiss economy] is entering a difficult phase, with a very low and possibly even slightly negative growth rate"
- Thomas Jordan, Vice President at SNB
Swiss gross domestic product rose moderate 0.2 percent in the third quarter of 2011 and at the slowest pace since 2009, the Federal State Secretariat for Economic Affairs said on Thursday.
Swiss national bank Vice President Thomas Jordan said last month the economy "is entering a difficult phase, with a very low and possibly even slightly negative growth rate."
"Switzerland came off lightly in the third quarter, but the worst is yet to come," said David Kohl, deputy chief economist at Julius Baer Group in Frankfurt. "The country's export-led economy won't be able to decouple from the euro-area slowdown and will slide into recession."