Switzerland’s GDP jumps 1.5% in Q2
The Swissmem employers' association recently noted that industrial firms were benefiting from demand for AI data centre equipment.
Switzerland's economy expanded by 1.5% in the second quarter, according to initial estimates released by the economy ministry on Friday. This marked a significant jump from the 0.4% growth recorded in the first three months of the year. The ministry's statement revealed that the industrial sector played a pivotal role in this growth, with the chemical and pharmaceutical industries being key contributors.
The services sector also showed positive growth, though details of this increase are expected to be published on September 3.
Industrial firms have been benefiting from increased demand for AI data centre equipment, as noted by the Swissmem employers association. Despite the impact of new US tariffs of 12.5% on exports, the Swiss customs office had previously reported a 1.7% rise in exports for the second quarter, up from 0.3% in the previous period. Analysts at Capital Economics are optimistic that this upward trend will continue into the third quarter, predicting a quarter-on-quarter GDP growth of 1.0%, though they believe growth could be even stronger based on current indicators.
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