Switzerland's gross domestic product increased by 0.3 percent in the second quarter of this year compared with the first quarter, and 1.1 percent up compared with the same period last year, the State Secretariat for Economic Affairs ( Seco) of Switzerland said Friday.

"The expansion in the second quarter was broadly based and was supported both by domestic and foreign demand," Seco said in a statement, adding that it sees light at the end of the tunnel, with the economic cycle having recovered from its lowest point.

Exports grew by 5.8 percent in the quarter and 6.3 percent over the same period last year, while capital investments increased by 3.6 percent in the quarter, led by the construction industry which recorded a growth of 7 percent, according to Seco.

Private consumption was also slightly above the average at 0.4 percent, or 1.5 percent higher than last year.

The office said it expected "further consolidation" in the second half of the year "but hardly a strong acceleration of the Swiss economy."

However, Seco warned of risks, including "the expansion in the euro zone which is still fragile and higher crude oil prices."

Source: Xinhua