Swiss GDP grows 1.5% in Q2 2026, data shows

Switzerland’s gross domestic product grew 1.5% in the second quarter of 2026, according to preliminary data released by the State Secretariat for Economic Affairs (SECO) on Friday.

The expansion exceeded market expectations, which had pointed to growth of around 1.2%, and marked an acceleration from the revised 1.1% increase recorded in the first quarter. Domestic demand, particularly household consumption and business investment, was cited as the primary driver of the uptick.

Services sectors, including finance and professional services, contributed significantly to the growth, while manufacturing activity remained subdued amid ongoing global trade uncertainties. The Swiss franc’s recent strength against major currencies did not appear to dampen the momentum, as exporters benefited from improved competitiveness in key markets.

Analysts noted that the outperformance reflected resilient domestic fundamentals, though risks from external demand and geopolitical tensions persisted. The Swiss National Bank (SNB) has maintained a cautious policy stance, balancing inflation concerns with growth support.

The data follows recent revisions to Switzerland’s 2025 GDP growth, which was adjusted upward to 1.8% from 1.5%, signaling a gradual recovery trajectory. The SNB is expected to monitor incoming data closely as it assesses the need for further policy adjustments.