FX.co ★ Swiss Q2 GDP Growth Strongest Since 2021

Switzerland’s economy grew by 1.5% quarter-on-quarter in the three months to June 2026, a sharp acceleration from the 0.4% increase recorded in the previous quarter, according to flash estimates. This was the strongest quarterly expansion since the third quarter of 2021 and highlights the country’s resilience in the face of several headwinds, including elevated energy costs linked to tensions in the Middle East and ongoing trade uncertainty. The latter is largely due to the absence of a legally binding trade agreement with the US, despite Switzerland having reached a preliminary deal last November that capped tariffs at 15%. Growth was led by the industrial sector, with chemicals and pharmaceuticals delivering the largest contribution to overall activity. The services sector also expanded, reinforcing the broad-based improvement in output.