News

Swiss GDP Growth Revised Down
Switzerland’s gross domestic product expanded 0.4% quarter-on-quarter in the three months to March 2026, less than initial estimates of 0.5%. Industrial output increased 1.3%, led by manufacturing (+1.5%). On the other hand, the chemical and pharmaceutical industry contracted (–3.4%) as exports of these products fell sharply, contributing to a 2.2% decline in overall goods exports. Services grew just 0.2%, with mixed performance across sectors. Transport (+1.9%) and financial services (+1.3%) supported growth, helped by stronger interest and commission income. In contrast, trade fell 0.8%, including a 1.3% decline in retail activity. Accommodation and food services also weakened (–0.6%) due to fewer overnight stays. Services exports rose only 0.5%. Domestic final demand increased just 0.1%. Government spending grew strongly (+0.9%), but both equipment investment (–0.2%) and construction investment (–0.2%) declined. Imports fell 2.4%, reflecting weak domestic demand.
Published on 2026-06-01

Swiss GDP Growth Revised Down
Switzerland’s gross domestic product expanded 0.4% quarter-on-quarter in the three months to March 2026, less than initial estimates of 0.5%. Industrial output increased 1.3%, led by manufacturing (+1.5%). On the other hand, the chemical and pharmaceutical industry contracted (-3.4%) as exports of these products fell sharply, contributing to a 2.2% decline in overall goods exports. Services grew just 0.2%, with mixed performance across sectors. Transport (+1.9%) and financial services (+1.3%) supported growth, helped by stronger interest and commission income. In contrast, trade fell 0.8%, including a 1.3% decline in retail activity. Accommodation and food services also weakened (-0.6%) due to fewer overnight stays. Services exports rose only 0.5%. Domestic final demand increased just 0.1%. Government spending grew strongly (+0.9%), but both equipment investment (-0.2%) and construction investment (-0.2%) declined. Imports fell 2.4%, reflecting weak domestic demand.
Published on 2026-06-01

Swiss GDP Growth Accelerates in Q1
Switzerland’s economy expanded by 0.5% quarter-on-quarter in the three months to March 2026, accelerating from 0.2% growth in the previous period, flash estimates showed. This marks the strongest quarterly performance in a year, with both the industrial and services sectors contributing to the expansion. The data points to continued underlying resilience in the Swiss economy, extending the rebound from last quarter, which followed a contraction in the preceding quarter.
Published on 2026-05-18

Swiss GDP Growth Accelerates in Q1
Switzerland’s economy expanded by 0.5% quarter-on-quarter in the three months to March 2026, accelerating from 0.2% growth in the previous period, flash estimates showed. This marked the strongest quarterly performance in a year, with both the industrial and services sectors contributing to the expansion. The figures suggest the Swiss economy continued to recover from a brief contraction following the US tariff shock last summer, with growth proving resilient despite a surge in energy prices and a stronger franc after the outbreak of the Iran war. Initial attacks drove oil and gas prices sharply higher and boosted safe-haven demand for the franc, though a late-March easing in the currency may have provided some relief to exporters toward the end of the quarter.
Published on 2026-05-18

Swiss Economy Returns to Growth in Q4
Switzerland’s sport-adjusted GDP rose 0.2% in the fourth quarter of 2025, rebounding from a 0.4% contraction in the previous quarter and matching preliminary estimates. The modest recovery suggests underlying resilience after the sharp downturn triggered by US President Donald Trump’s initial 39% tariff, which led to the steepest contraction since the pandemic. A trade agreement reached in November, lowering tariffs to 15%, helped ease concerns about prolonged economic damage. Domestic demand supported growth, with private consumption up 0.4% and investment increasing in construction (1.0%) as well as equipment and software (0.6%). However, net trade weighed on GDP as imports outpaced exports. On an annual basis, growth slowed slightly to 0.8% in Q4 from 0.9% in Q3. For 2025 as a whole, the economy expanded 1.4%, up from 1.2% in 2024.
Published on 2026-02-27

Swiss Economy Grows 0.2% in Q4
Switzerland’s economy grew by 0.2% quarter-on-quarter in the fourth quarter of 2025, rebounding from 0.5% contraction in the previous quarter, flash estimates showed. The data indicates resilience in the Swiss economy following the initial shock from US President Trump’s 39% tariff, which led to its largest contraction since the pandemic. Growth in the services sector remained muted, while the industrial sector stagnated. For 2025 as a whole, GDP increased by 1.4%, following 1.2% rise in the previous year, but remained well below its long-term average growth (1.8% since 1981), as a challenging international environment weighed on the export-oriented economy.
Published on 2026-02-16

Swiss Economy Grows 0.2% in Q4
Switzerland’s economy grew by 0.2% quarter-on-quarter in the fourth quarter of 2025, rebounding from 0.5% contraction in the previous quarter, flash estimates showed. The data points to underlying resilience in the Swiss economy following the imposition of US President Trump’s 39% tariff, which resulted to the largest contraction since the pandemic. A trade deal reached in mid-November, reducing tariffs to 15%, raised hopes that the impact of tariffs would be contained. Growth was primarily driven by a moderate rise in the services sector, while the industrial sector stagnated. For 2025 as a whole, GDP increased by 1.4%, following a 1.2% rise in the previous year, but still below Switzerland’s long-term average growth (1.8% since 1981), as a challenging international environment weighed on the export-oriented manufacturing sector.
Published on 2026-02-16

Swiss Economy Grows 0.2% in Q4
Switzerland’s economy grew by 0.2% quarter-on-quarter in the fourth quarter of 2025, rebounding from 0.5% contraction in the previous quarter, flash estimates showed. The data indicates resilience in the Swiss economy following the initial shock from US President Trump’s 39% tariff, which led to its largest contraction since the pandemic. Growth in the services sector remained muted, while the industrial sector stagnated. For 2025 as a whole, GDP increased by 1.4%, following 1.2% rise in the previous year, but remained well below its long-term average growth (1.8% since 1981), as a challenging international environment weighed on the export-oriented economy.
Published on 2026-02-16

Swiss Economy Grows 0.2% in Q4
Switzerland’s economy grew by 0.2% quarter-on-quarter in the fourth quarter of 2025, rebounding from 0.5% contraction in the previous quarter, flash estimates showed. The data points to underlying resilience in the Swiss economy following the imposition of US President Trump’s 39% tariff, which resulted to the largest contraction since the pandemic. A trade deal reached in mid-November, reducing tariffs to 15%, raised hopes that the impact of tariffs would be contained. Growth was primarily driven by a moderate rise in the services sector, while the industrial sector stagnated. For 2025 as a whole, GDP increased by 1.4%, following a 1.2% rise in the previous year, but still below Switzerland’s long-term average growth (1.8% since 1981), as a challenging international environment weighed on the export-oriented manufacturing sector.
Published on 2026-02-16

Swiss Economy Grows 0.2% in Q4
Switzerland’s economy grew by 0.2% quarter-on-quarter in the fourth quarter of 2025, rebounding from 0.5% contraction in the previous quarter, flash estimates showed. The data indicates resilience in the Swiss economy following the initial shock from US President Trump’s 39% tariff, which led to its largest contraction since the pandemic. Growth in the services sector remained muted, while the industrial sector stagnated. For 2025 as a whole, GDP increased by 1.4%, following 1.2% rise in the previous year, but remained well below its long-term average growth (1.8% since 1981), the country’s average economic growth (1.8% since 1981), as a challenging international environment weighed on the export oriented industry.
Published on 2026-02-16

Swiss Economy Grows 0.2% in Q4
Switzerland’s economy grew by 0.2% quarter-on-quarter in the fourth quarter of 2025, rebounding from 0.5% contraction in the previous quarter, flash estimates showed. The data points to underlying resilience in the Swiss economy following the imposition of Donald Trump’s 39% tariff, which led to the largest contraction since the pandemic. The trade deal reached in mid-November, which reduced levies to 15%, raised hopes that the economic impact of tariffs would be contained. Growth was primarily driven by a moderate rise in the services sector, which was marred by stagnation in the industrial sector. For 2025 as a whole, GDP increased by 1.4%, following 1.2% rise in the previous year, but still below Switzerland’s long-term average growth (1.8% since 1981), as a challenging international environment weighed the export-oriented manufacturing sector.
Published on 2026-02-16

Swiss Economy Grows 0.2% in Q4
Switzerland’s economy grew by 0.2% quarter-on-quarter in the fourth quarter of 2025, rebounding from a 0.5% contraction in the previous quarter, flash estimates showed. The data points to underlying resilience in the Swiss economy following the initial imposition of US President Trump’s 39% tariff, which resulted to the largest contraction since the pandemic. A trade deal reached in mid-November, reducing tariffs to 15%, raised hopes that the impact of tariffs would be contained. Growth was primarily driven by a moderate rise in the services sector, while the industrial sector stagnated. For 2025 as a whole, GDP increased by 1.4%, following a 1.2% rise in the previous year, but still below Switzerland’s long-term average growth (1.8% since 1981), as a challenging international environment weighed on the export-oriented manufacturing sector.
Published on 2026-02-16

Swiss Economy Grows 0.2% in Q4
Switzerland’s economy grew by 0.2% quarter-on-quarter in the fourth quarter of 2025, rebounding from a 0.5% contraction in the previous quarter, flash estimates showed. The data points to underlying resilience in the Swiss economy following the initial imposition of US President Trump’s 39% tariff, which resulted to the largest contraction since the pandemic. A trade deal reached in mid-November, reducing tariffs to 15%, raised hopes that the impact of tariffs would be contained. Growth was primarily driven by a moderate rise in the services sector, while the industrial sector stagnated. For 2025 as a whole, GDP increased by 1.4%, following a 1.2% rise in the previous year, but still below its long-term average growth (1.8% since 1981), as a challenging international environment weighed on the export-oriented manufacturing sector.
Published on 2026-02-16

Swiss Economy Grows 0.2% in Q4
Switzerland’s economy grew by 0.2% quarter-on-quarter in the fourth quarter of 2025, rebounding from 0.5% contraction in the previous quarter, flash estimates showed. The data points to underlying resilience in the Swiss economy following the imposition of Donald Trump’s 39% tariff, which led to the largest contraction since the pandemic. The trade deal reached in mid-November, which reduced levies to 15%, raised hopes that the economic impact of tariffs would be contained. Growth was primarily driven by a moderate rise in the services sector, which was marred by stagnation in the industrial sector. For 2025 as a whole, GDP increased by 1.4%, following 1.2% rise in the previous year, but still below Switzerland’s long-term average growth (1.8% since 1981), as a challenging international environment weighed the export-oriented manufacturing sector.
Published on 2026-02-16

Swiss Economy Grows 0.2% in Q4
Switzerland’s economy grew by 0.2% quarter-on-quarter in the fourth quarter of 2025, rebounding from a 0.5% contraction in the previous quarter, flash estimates showed. The data points to underlying resilience in the Swiss economy following the imposition of US President Trump’s 39% tariff, which resulted to the largest contraction since the pandemic. A trade deal reached in mid-November, reducing tariffs to 15%, raised hopes that the impact of tariffs would be contained. Growth was primarily driven by a moderate rise in the services sector, while the industrial sector stagnated. For 2025 as a whole, GDP increased by 1.4%, following a 1.2% rise in the previous year, but still below Switzerland’s long-term average growth (1.8% since 1981), as a challenging international environment weighed on the export-oriented manufacturing sector.
Published on 2026-02-16

Switzerland Records Sharpest GDP Decline Since 2020
Switzerland’s GDP fell by 0.5% in the third quarter of 2025, reversing the upwardly revised 0.2% growth seen in the previous quarter. This marks the country’s first economic contraction since Q1 2024 and the steepest decline since the early months of the COVID-19 pandemic. The downturn was driven primarily by the chemical and pharmaceutical sector, where earlier export strength was followed by a significant decline due in part to US tariffs. Weakness in services activity compounded the slide, failing to counterbalance the broader industrial slowdown. On the expenditure side, goods exports dropped 4.2%, outpacing the 0.8% decline in imports. Investment also softened, with slight decreases in equipment and software (-0.1%) as well as construction (-0.2%). Government consumption edged down 0.2%, while private consumption offered a modest bright spot, rising 0.4%. Compared with a year earlier, GDP growth eased to 0.8% in Q3 from 1.5% in Q2.
Published on 2025-11-28

Switzerland Records Sharpest GDP Decline Since 2020
Switzerland’s GDP fell by 0.5% in the third quarter of 2025, reversing the upwardly revised 0.2% growth seen in the previous quarter. This marks the country’s first economic contraction since Q1 2024 and the steepest decline since the early months of the COVID-19 pandemic. The downturn was driven primarily by the chemical and pharmaceutical sector, where earlier export strength was followed by a significant correction. Weakness in services activity compounded the slide, failing to counterbalance the broader industrial slowdown. On the expenditure side, goods exports dropped 4.2%, outpacing the 0.8% decline in imports. Investment also softened, with slight decreases in equipment and software (-0.1%) as well as construction (-0.2%). Government consumption edged down 0.2%, while private consumption offered a modest bright spot, rising 0.4%. Compared with a year earlier, GDP growth eased to 0.8% in Q3 from 1.5% in Q2.
Published on 2025-11-28

Switzerland Records Sharpest GDP Decline Since 2020
Switzerland’s GDP fell by 0.5% in the third quarter of 2025, reversing the upwardly revised 0.2% growth seen in the previous quarter. This marks the country’s first economic contraction since Q2 2023 and the steepest decline since the early months of the COVID-19 pandemic. The downturn was driven primarily by the chemical and pharmaceutical sector, where earlier export strength was followed by a significant correction. Weakness in services activity compounded the slide, failing to counterbalance the broader industrial slowdown. On the expenditure side, goods exports dropped 4.2%, outpacing the 0.8% decline in imports. Investment also softened, with slight decreases in equipment and software (-0.1%) as well as construction (-0.2%). Government consumption edged down 0.2%, while private consumption offered a modest bright spot, rising 0.4%. Compared with a year earlier, GDP growth eased to 0.8% in Q3 from 1.5% in Q2.
Published on 2025-11-28

Swiss Q3 GDP Hits First Contraction Since 2023
Switzerland's economy contracted by 0.5% quarter-on-quarter in the third quarter of 2025, reversing the 0.1% growth recorded in the previous three-month period, flash estimates showed. It marked the first economic contraction since the second quarter of 2023, reflecting the significant strain imposed by the 39% US tariff introduced in early August that heavily impacted the export-oriented economy. With officials securing a trade agreement last week that reduces the tariff to 15%, pressure on key Swiss export industries is expected to ease and raises the prospect of a rebound in the coming quarters. The contraction was driven largely by a steep decline in value added within the chemical and pharmaceutical sector, while the industrial sector overall also posted negative growth. Moreover, the services sector expanded, but at a slower-than-average pace.
Published on 2025-11-17

Swiss Q3 GDP Hits First Contraction Since 2023
Switzerland's economy contracted by 0.5% quarter-on-quarter in the third quarter of 2025, reversing the 0.1% growth recorded in the previous three-month period, flash estimates showed. It marked the first economic contraction since the second quarter of 2023, reflecting the significant strain imposed by the 39% US tariff introduced in early August, which hit the export-oriented economy hard. With officials securing a trade agreement last week that reduces the tariff to 15%, pressure on key Swiss export industries is expected to ease and raises the prospect of a rebound in the coming quarters. The contraction was driven largely by a steep decline in value added within the chemical and pharmaceutical sector, while the industrial sector overall also posted negative growth. Moreover, the services sector expanded, but at a slower-than-average pace.
Published on 2025-11-17