The Swiss economy only grown weakly in spring.
The gross domestic product (GDP) rose by 0.1 percent in the second quarter compared to the previous quarter, as the State Secretariat for Economy (Seco) announced on Thursday. This confirmed an initial estimate as expected by analyst: expected on the inside. In the first quarter, economic output was still revised by 0.4 percent (previously 0.5 percent).
According to the announcement, industrial value creation and exports have developed significantly. In contrast, the service sector “broadly supported”. The number of GDP development is adjusted for sports events. As is well known, Olympic Games and major football events distort Swiss GDP because of the license revenue, which flow into the sports associations based in Germany. GDP growth was now unavoidable 0.1 percent.
The Swiss economy was slowed down by the customs policy of US President Donald Trump. At the beginning of April, the US government – with a few exceptions – introduced basic tariffs in the amount of 10 percent. A custom of 39 percent has been in effect for Switzerland since the beginning of August.
Forecast 2026 significantly reduced
Against the background of the US tariffs, the economist reduces their expectations of GDP development inside. As a result of the higher US import tariffs, the Swiss economy is likely to grow weaker in particular than previously expected.
For the current year, the seco assumes 1.2 percent growth in the current location. In June, the federal economists were expected to increase 1.3 percent. For 2026, GDP forecast is +0.8 percent after +1.2 percent.