Swiss Economy Shrinks In Q3

(RTTNews) - The Swiss economy contracted in the third quarter as higher US tariff weighed on exports, the flash estimate from the State Secretariat for Economic Affairs and the Federal Statistical Office showed Monday.

Gross domestic product shrank 0.5 percent on a quarterly basis, reversing a 0.1 percent expansion in the second quarter. This marked the first contraction since 2023.

Driven by a sharp decline in value added in the chemical and pharmaceutical sector, industry as a whole recorded negative growth, the SECO said. The services sector grew at a below-average rate.