Swiss economy posts strong growth in second quarter

“The strongest impetus came from the chemical and pharmaceutical industry”, said SECO. Keystone-SDA

The Swiss economy grew by 1.5% in the second quarter of the year, compared with the previous quarter, according to the second estimate published on Thursday by the State Secretariat for Economic Affairs (SECO).

This figure, adjusted for sporting events, confirms the estimates released in mid-August, which point to a marked acceleration following a rise of just 0.55 in the first quarter.

According to federal economists, this represents “the strongest GDP growth since the third quarter of 2021”.

“The strongest impetus came from the chemical and pharmaceutical industry, but value added also rose in many other sectors,” said SECO.

Exports, excluding transit trade, posted a significant rebound of 9.7% during the period under review, following a 1.2% decline between January and March. Investment in capital goods also picked up, accelerating by 0.8% following a decline of 1.2%.

Private consumption, one of the driving forces behind the Swiss economy, remained sluggish, however, showing only a modest increase of 0.3%, following a rise of 0.1% in the first quarter.

By sector, the chemicals and pharmaceuticals sector (+10.5%) performed exceptionally well, despite uncertainties surrounding United States tariffs. Manufacturing (+4.5%) also grew, as did financial services (+1.9%) and transport (+1.9%). Growth in the services sector (+0.7%), meanwhile, remained moderate.

+ How we produce news in English
Translated from German, reviewed by an English Department journalist