The Swiss government cut its 2009 economic forecast for a second time this year after the worst global recession in more than six decades eroded exports.

Swiss gross domestic product may drop 2.7 percent this year and 0.4 percent in 2010, the State Secretariat for Economic Affairs said. That’s the worst contraction since at least 1975. In March, the government projected the economy to shrink 2.2 percent this year and expand 0.1 percent in 2010. Read more…