Switzerland’s economy shrinks 0.5% in Q3 as U.S. tariffs hit business

Investing.com -- Switzerland’s economy contracted by 0.5% in the third quarter compared to the previous three months, according to an initial government estimate released Monday.

The decline follows a modest growth of 0.1% in the second quarter, a period when the United States began implementing tariffs on countries worldwide.

The Swiss government attributed the third quarter setback primarily to a contraction in the chemical and pharmaceuticals industry.

Growth in the service sector was also reported to be below average during the July-September period.

This economic downturn comes as U.S. tariffs have started to impact Swiss businesses, marking a significant shift from the slight expansion seen earlier in the year.

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