Another big jump in this data series after well exceeding market expectations and also showing an upward revision to the previous print. A closer look at the components showed investment as the most impressive area, while household consumption was the only minor disappointment after coming in flat. While the data is extremely encouraging and in line with leading indicators, there are still some signs of a slowing within the economy that will likely keep the SNB on hold for the time being.
Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
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