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Swiss GDP Growth Confirmed at 0.1% in Q2
Switzerland’s GDP grew just 0.1% in Q2 2025, in line with preliminary estimates, and slowing from 0.7% in Q1 as weakness in industry and exports outweighed gains in services. Manufacturing contracted sharply (-2.4%), led by a 4.8% drop in chemicals and pharmaceuticals after a strong Q1 surge tied to US trade policy shifts. Exports fell 2.7% and imports 3.7%. By contrast, services expanded broadly: hospitality (+1.5%), public administration (+1.2%), trade (+1.9%) and healthcare (+0.3%) supported modest domestic demand (+0.1%). Private consumption rose 0.3%, while government spending grew 0.9%. Construction (-0.4%) and equipment investment (-0.8%) declined, reflecting weakness in capital goods, particularly aircraft and R&D. SECO revised its outlook, warning that new US tariffs will weigh on growth. Projections now see GDP at 1.2% in 2025 and just 0.8% in 2026, versus earlier forecasts of 1.3% and 1.2%. While a severe recession is unlikely, certain industries face significant strain.
Published on 2025-08-28

Swiss GDP Growth Confirmed at 0.1% in Q2
Switzerland’s GDP in Q2 2025 grew just 0.1%, in line with preliminary estimates, and slowing from 0.7% in Q1 as weakness in industry and exports outweighed gains in services. Manufacturing contracted sharply (-2.4%), led by a 4.8% drop in chemicals and pharmaceuticals after a strong Q1 surge tied to US trade policy shifts. Exports fell 2.7% and imports 3.7%. By contrast, services expanded broadly: hospitality (+1.5%), public administration (+1.2%), trade (+1.9%) and healthcare (+0.3%) supported modest domestic demand (+0.1%). Private consumption rose 0.3%, while government spending grew 0.9%. Construction (-0.4%) and equipment investment (-0.8%) declined, reflecting weakness in capital goods, particularly aircraft and R&D. SECO revised its outlook, warning that new US tariffs will weigh on growth. Projections now see GDP at 1.2% in 2025 and just 0.8% in 2026, versus earlier forecasts of 1.3% and 1.2%. While a severe recession is unlikely, certain industries face significant strain.
Published on 2025-08-28

Swiss Economy Shows Weak Growth in Q2
Switzerland’s economy grew by 0.1% quarter-on-quarter in the second quarter of 2025, slowing from an upwardly revised 0.8% expansion in the previous quarter, according to a flash estimate. This marked the weakest growth since the first quarter of 2024, as gains in the services sector were offset by a downturn in industrial activity. The data comes as the country digests US President Donald Trump's imposition of a 39% tariff on Swiss exports — the highest rate among developed nations.
Published on 2025-08-15

Swiss Economy Shows Weak Growth
Switzerland’s economy grew by 0.1% in the second quarter of 2025, slowing from a 0.5% expansion in the previous quarter, according to a flash estimate. This marked the weakest growth since a contraction in the second quarter of 2023, as gains in the services sector were offset by a downturn in industrial activity.
Published on 2025-08-15

Swiss Economy Shows Weak Growth in Q2
Switzerland’s economy grew by 0.1% in the second quarter of 2025, slowing from a 0.5% expansion in the previous quarter, according to a flash estimate. This marked the weakest growth since a contraction in the second quarter of 2023, as gains in the services sector were offset by a downturn in industrial activity.
Published on 2025-08-15

Swiss Economy Shows Weak Growth in Q2
Switzerland’s economy grew by 0.1% quarter-on-quarter in the second quarter of 2025, slowing from a 0.5% expansion in the previous quarter, according to a flash estimate. This marked the weakest growth since a contraction in the second quarter of 2023, as gains in the services sector were offset by a downturn in industrial activity.
Published on 2025-08-15

Swiss Economy Shows Weak Growth in Q2
Switzerland’s economy grew by 0.1% quarter-on-quarter in the second quarter of 2025, slowing from an upwardly revised 0.8% expansion in the previous quarter, according to a flash estimate. This marked the weakest growth since a contraction in the second quarter of 2023, as gains in the services sector were offset by a downturn in industrial activity.
Published on 2025-08-15

Swiss Economy Shows Weak Growth in Q2
Switzerland’s economy grew by 0.1% quarter-on-quarter in the second quarter of 2025, slowing from an upwardly revised 0.8% expansion in the previous quarter, according to a flash estimate. This marked the weakest growth since a contraction in the second quarter of 2023, as gains in the services sector were offset by a downturn in industrial activity. The data comes as the country digests US President Donald Trump's imposition of a 39% tariff on its exports, the steepest among developed countries.
Published on 2025-08-15

Swiss Economy Shows Weak Growth in Q2
Switzerland’s economy grew by 0.1% quarter-on-quarter in the second quarter of 2025, slowing from an upwardly revised 0.8% expansion in the previous quarter, according to a flash estimate. This marked the weakest growth since a contraction in the second quarter of 2023, as gains in the services sector were offset by a downturn in industrial activity. The data comes as the country digests US President Donald Trump's imposition of a 39% tariff on Swiss exports — the highest rate among developed nations.
Published on 2025-08-15

Swiss Economy Shows Weak Growth in Q2
Switzerland’s economy grew by 0.1% quarter-on-quarter in the second quarter of 2025, slowing from an upwardly revised 0.8% expansion in the previous quarter, according to a flash estimate. This marked the weakest growth since a contraction in the second quarter of 2023, as gains in the services sector were offset by a downturn in industrial activity. The data comes as the country digests US President Donald Trump's imposition of a 39% tariff on Swiss exports — the highest rate among developed nations.
Published on 2025-08-15

Swiss Economy Expands 0.5% in Q1
Switzerland’s GDP grew by 0.5% quarter-on-quarter in Q1 2025 from a downwardly revised 0.3% in Q4, but below the preliminary estimate of 0.7%. The stronger expansion was driven by strong performance in manufacturing (2.1% vs 1.2%), construction (1.1% vs 0%), and trade, repair of motor vehicles and motorcycles (2.1% vs 0.3%). Conversely, output was flat in agriculture, forestry, and fishing (0.1%), while it declined in mining and quarrying (-0.2% vs -0.5%) and in electricity, gas, steam, and air conditioning supply (-9.4% vs 1.7%). On the expenditure side, growth slowed for private consumption (0.2% vs 0.5%), government spending (0.4% vs 0.6%), and fixed investment (0.5% vs 1.3%). Net trade also contributed negatively, as imports surged 13.1% (vs 3.4%) while exports grew more modestly at 10.5% (vs 6.2%). Year-on-year, GDP expanded by 2.0%, accelerating from a 1.6% growth in Q4 and above the expected 1.5% expansion.
Published on 2025-06-02

Swiss Economy Records Strongest Growth in Two Years
Switzerland’s economy expanded by 0.7% in the first quarter of 2025, following an upwardly revised 0.5% growth in the previous quarter, according to a flash estimate. This marked the strongest pace of expansion since the first quarter of 2023, driven largely by robust activity in the services sector, while the industrial sector also recorded overall growth.
Published on 2025-05-15

Swiss GDP Growth Slows as Expected
Switzerland’s GDP growth slowed to 0.2% on quarter in Q4 2024, down from 0.4% in Q3, in line with expectations. This marks the softest expansion since Q2 2023, with weaker performances in sectors such as construction (0.1% vs. 0.9% in Q3), trade and motor vehicle repair (0.1% vs. 1%), and human health and social work (0.2% vs. 0.4%). Additionally, output contracted in mining and quarrying (-0.8% vs. -0.4%) and arts, entertainment, and recreation (-25.8% vs. 21.4%). Meanwhile, the manufacturing sector rebounded (0.9% vs. -1.2%), and agriculture, forestry, and fishing saw modest growth (0.1% vs. 0%). Net trade also contributed positively to the GDP, with exports surging 7% while imports rose at a softer 2.8%. Year-on-year, GDP expanded 1.5%, cooling from 1.9% in Q3. For the full year, the Swiss economy grew by 1.3%.
Published on 2025-02-27

Swiss GDP Expands 0.4% in Q2
Switzerland's GDP expanded by 0.4% quarter-on-quarter in Q3 2024, slowing from a 0.6% growth rate in Q2, in line with expectations. Growth was supported by sectors like real estate, professional and technical activities, trade (up 1.4%), public administration (0.5%), and human health and social work (0.5%). However, manufacturing contracted sharply by 1.1%. On the expenditure side, private and government consumption both rose by 0.5%, but net trade weighed on growth as goods exports fell 3.9% and imports dropped 2.1%. Year-on-year, GDP grew by 2% in Q3, an improvement from 1.5% in Q2 and surpassing market forecasts of 1.8%.
Published on 2024-11-29

Swiss GDP Growth at 2-Year High, Tops Forecasts
Switzerland's GDP grew by 0.7% on quarter in the three months to June of 2024, beating market forecasts and previous period's 0.5% gain. This marked the fastest economic expansion since the second quarter of 2022, mainly driven by an increase in manufacturing sector (2.6%). Moreover, services sector rose, particularly the accommodation and food services (2.7%) and human health and social work activities (1.1%), while construction industry saw a slight uptick of 0.1%. Meanwhile, retail trade sector tumbled 0.4% after two consecutive period of growth. On the expenditure side, private consumption grew by 0.3% while general government consumption rose by 0.2%. Net trade contributed negatively to the GDP, as goods exports plunged by 5% while goods imports plummeted by 13.8%. On an annual basis, the country's GDP grew by 1.8% in Q2 of 2024, accelerating from a 0.6% rise in the previous three-month period.
Published on 2024-09-03

Swiss GDP Growth at Almost 2-Year High
Switzerland’s GDP expanded by 0.5% in the first quarter of 2024, beating market estimates and the previous period’s 0.3% growth. It marked the fastest economic expansion since the second quarter of 2022, mainly driven by the services sector, particularly the accommodation and food services sector (1.3%), health and social care services (0.8%), and public administration (0.2%). Also, the retail sector grew at an above-average rate of 1.4%. At the same time, the construction industry increased by 0.3%, while the industrial sector stalled, and the manufacturing industry fell (-0.2%). On the expenditure side, private consumption grew by 0.4% due to increased spending on food and non-food items, housing, and healthcare, while general government consumption rose by 0.2%. Net trade contributed negatively to the GDP, as goods exports shrank by 3.3%. On an annual basis, GDP grew by 0.6%, up from a prior 0.5% rise.
Published on 2024-05-30

Swiss GDP Grows More than Expected in Q4
Switzerland's GDP grew by 0.3% in the final quarter of 2023, exceeding expectations of 0.1%. The manufacturing sector saw a slight decline of 0.1%, largely due to the chemical and pharmaceutical industry's 2.3% drop in exports. However, other industrial sectors rebounded after two negative quarters, with the energy sector increasing by 4.3%, driven by hydropower plants. The services sector also contributed significantly to GDP growth, with accommodation and food services expanding by 3.5% and health and social care services by 1.4%. Financial services saw a strong growth of 1.0% due to increased commission business. Private consumption grew slightly below average, while investments in equipment and construction saw declines. On an annual basis, GDP grew by 0.6%, and for the full year of 2023, the Swiss economy expanded by 0.8%.
Published on 2024-02-29

Switzerland GDP Growth Tops Forecasts
The Swiss economy expanded 0.3% on quarter in Q3 2023, rebounding from a revised 0.1% fall in Q2 and beating forecasts of a 0.1% rise. The services sector was the main driver of growth, namely health and social care services (0.7% vs 0.8% in Q2), trade (1.1% vs 1.9%) and transport and communication (0.3%) while business-related services edged 0.1% lower (vs 0.6%) and the accommodation and food services fell 3.7% (vs 8.2%). Meanwhile, the manufacturing sector stalled, after a 2.8% drop in Q2, with the output in chemical and pharmaceutical rising 1.2%. On the expenditure side, exports saw a strong 6.2% rise (vs -2.7%), supported by merchanting and imports rose 1.5%, after a 6.7% drop. Also, construction investment rebounded (0.2% vs -0.9%) and public expenditure accelerated (0.5% vs flat reading). Also, household spending grew only modestly (0.2% vs 0.4%) and investment in equipment and software fell less (-1.1% vs -3.4%). Year-on-year, the economy rose 0.3%.
Published on 2023-12-01

Swiss GDP Unexpectedly Stalls in Q2
The Swiss GDP stalled from the previous quarter in the three months leading to June of 2023, missing estimates of a 0.1% expansion and holding the 0.3% increase from the quarter ending March. The result pointed to a renewed period without growth for the Swiss economy, suggesting that the Swiss National Bank’s historical tightening campaign is being transmitted to a greater extent halfway through the year. Private consumption advanced by 0.4% from 0.6% in the earlier quarter, while government consumption slowed to 0.1% from 0.4%. On the other hand, equipment and software investment contracted by 3.7% to fully erase the 2.5% growth in the first quarter, aligned with a 0.8% contraction in construction investment due to higher borrowing costs. In the meantime, trade volumes fell considerably, with imports of goods sinking 7.2% and exports of goods dropping 2.5%. Over the previous year, the Swiss GDP expanded by 0.5% in the second quarter.
Published on 2023-09-04

Swiss GDP Expands 0.3% in Q1
The Swiss economy grew by 0.3% from the previous quarter in the first three months of 2023, picking up from a stall in the previous period and firmly above expectations of a slower 0.1% growth. The result pointed to some resilience from the Swiss economy during its central bank’s historical tightening campaign, with considerable expansions in private consumption (0.6% vs 0.2% in Q4 2022) and investment in equipment and software (2.6% vs 0.6%). On the other hand, government consumption stalled (vs -0.1%), while construction investment was slightly lower (-0.1% vs -0.5%). In the meantime, foreign demand for goods contributed negatively to the change in GDP as export growth (4%) was unable to keep up with import growth (5.4%). On a yearly basis, the Swiss economy expanded by 0.6%.
Published on 2023-05-30