Switzerland's economy expands fastest since 2021 in Q2

The Swiss State Secretariat for Economic Affairs reported that the country's economy recorded its fastest growth in nearly five years during the second quarter, with GDP increasing by 1.5% compared to the first quarter. The chemicals and pharmaceuticals sector contributed significantly to this growth, with the industrial sector rising by 3.9% due to a 4.5% increase in production. Domestic final demand also grew by 0.5%, exports increased by 5.5%, while imports rose by 2.2%. The Swiss economy is expected to grow around 1% this year and 1.5% next year, with the inflation rate rising to 0.8% in August, the highest level since September 2024.

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