Switzerland’s economy grew by 0.1% quarter-on-quarter in the second quarter of 2025, slowing from an upwardly revised 0.8% expansion in the previous quarter, according to a flash estimate. This marked the weakest growth since the first quarter of 2024, as gains in the services sector were offset by a downturn in industrial activity. The data comes as the country digests US President Donald Trump's imposition of a 39% tariff on Swiss exports — the highest rate among developed nations.