Paris, Aug 14 (V7N) – Switzerland's economic growth surged to 1.5 percent in the second quarter of 2026, shaking off higher energy costs and beating analyst expectations, driven primarily by its chemical and pharmaceutical industries, according to initial estimates released Friday.
The economy ministry reported that GDP growth reached 1.5 percent after a 0.4 percent rise in the first three months of the year, significantly exceeding analyst estimates of around 0.3 percent.
"The industrial sector greatly contributed to growth, driven in particular by the chemical and pharmaceutical industries," the ministry said in a brief statement, adding that the services sector also grew as a whole. Detailed figures are scheduled for release on September 3.
The Swissmem employers' association recently noted that industrial firms were benefiting from demand for AI data centre equipment. In May, a closely watched survey of purchasing managers saw the index reach its highest level in three years, even with new US tariffs of 12.5 percent impacting exports.
The Swiss customs office had already announced a 1.7 percent rise in exports in the second quarter, up from 0.3 percent in the previous quarter, signalling robust external demand.
"The early signs suggest that this momentum will continue into the third quarter," analyst at Capital Economics said in a research note following the GDP release. "We have pencilled in a 1.0 percent quarter-on-quarter rise in GDP in the third quarter, but these indicators suggest that growth could be even stronger."
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