Switzerland’s Federal Government Expert Group has lowered its economic growth forecasts, citing persistent global trade uncertainty and weaker investment momentum. GDP, adjusted for sporting events, is now projected to grow just 1.3% in 2025 and 1.2% in 2026, down from March’s forecasts of 1.4% and 1.6%, respectively.
These figures imply a period of significantly below-average growth for the Swiss economy, even under the assumption that the recent US import tariffs remain capped at current levels and that the trade conflict does not escalate further.
The inflation forecast for 2025 has been revised down to just 0.1%. In 2026, inflation is projected to pick up to 0.5%.
