Switzerland’s economy expanded 0.1 per cent in the second quarter, a sharp slowdown from the first three months of the year, when pharmaceutical companies accelerated exports in case US President Donald Trump hit the sector with tariffs.
Friday’s quarter-on-quarter GDP flash estimate for the April to June period was better than the 0.1 per cent contraction forecast by economists in a Bloomberg poll.
Nevertheless, it will add to the pressure on the Swiss central bank to potentially lower interest rates into negative territory to stimulate economic activity.
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