Financial News: Switzerland GDP Expands Less Than Estimated In Q1

Switzerland GDP Expands Less Than Estimated In Q1

(RTTNews) - The Swiss economy expanded less than estimated in the first quarter on subdued domestic demand, data from the State Secretariat for Economic Affairs, or SECO, showed Monday.

Gross domestic product grew 0.4 percent in the first quarter, which was revised down from the initial estimate of 0.5 percent.

Nonetheless, the rate was faster than the 0.2 percent expansion seen in the fourth quarter of 2025.

On an unadjusted basis, the economic growth accelerated to 0.7 percent from 0.2 percent in the preceding quarter.

Year-on-year, GDP advanced by an adjusted 0.3 percent after rising 1.1 percent in the previous quarter.

The expenditure-side of GDP showed that private consumption remained flat, while government spending logged a faster growth of 0.9 percent. Investment in equipment and software, and construction slid 0.2 percent each.

Goods exports declined 2.2 percent, while services exports grew 0.5 percent. Imports of goods and services decreased 2.4 percent, reflecting the weak performance of domestic demand.

Earlier, the SECO had downgraded its growth outlook for this year to 1.0 percent from 1.1 percent citing rising uncertainty over the war in the Middle East. Growth was projected to improve to 1.7 percent in 2027.

The Swiss National Bank had forecast growth of around 1 percent for 2026 as a whole, to be followed by about 1.5 percent expansion in 2027.

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