![The four-metre-long painting "Sonntag der Bergbauern" [Sunday of the Mountain Farmers, 1923-24/26] had to be removed by a crane from the German Chancellery in Berlin for the exhibition in Bern.](https://www.swissinfo.ch/content/wp-content/uploads/sites/13/2025/12/01_Pressebild_KirchnerxKirchner.jpg?crop=1165px,0px,1670px,1670px&w=480&ver=1ea8acae)
Swiss Firms See More Growth But Weaker Wage Pressure in SNB Poll
(Bloomberg) — Swiss companies are seeing a slight pickup in economic momentum in the current quarter, and weaker wage pressures next year, according to a survey by the Swiss National Bank.
“The services sector and construction continue to record solid growth in turnover, and parts of manufacturing also report a certain upturn in what has until now been weak momentum,” the central bank said in a summary of discussions with firms that it published on Wednesday.
Looking ahead, companies expect wage increases to slow to 1.3% in 2026, down from 1.6% this year. That could further weaken inflation.
The SNB added that some Swiss businesses that are strongly affected by US tariffs are responding by relocating parts of their manufacturing processes there.
After the two countries reached a preliminary trade deal, US levies were cut to 15% from 39%. Both sides are currently negotiating the details of the agreement.
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