Swiss economy stagnates in second quarter

After a strong start to the year, the Swiss economy has slowed considerably. In the second quarter, gross domestic product (GDP) rose by just 0.1% on an adjusted basis compared to the previous quarter. +Get the most important news from Switzerland in your inbox A negative trend in industry was offset by growth in the services sector in the second quarter of the year. This was reported by the State Secretariat for Economic Affairs (SECO) in its initial estimate published on Friday. In the first quarter, Swiss GDP had shot up by 0.8%. At that time, more goods were exported from Switzerland to the US due to the uncertainty surrounding US customs policy in the run-up to "Liberation Day" at the beginning of April. Pharmaceutical exports in particular rose sharply in March amid concerns about high US tariffs. + What do 39% US tariffs mean for the Swiss economy? The Swiss economy thus developed in line with expectations, although there was little consensus among economists in the run-up ... Full story here Are you the author? Previous post See more for 3.) Swissinfo Business and Economy Next post
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