Switzerland's economy contracted in the third quarter as the front-loading effects linked to the US trade policy faded, the State Secretariat for Economic Affairs reported Friday.
Gross domestic product shrank 0.5 percent sequentially, reversing a 0.2 percent rise in the second quarter. The SECO confirmed the estimate published on November 17.
The negative result was largely down to the chemical and pharmaceutical industry, where strong exports gave way to a compensatory decline, the SECO said.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.