Economic forecast: US tariffs weigh on Swiss industry, uncertainty remains elevated
Bern, 16.10.2025 — Higher US tariffs have further clouded the outlook for the Swiss economy. Based on recently revised GDP data,[1] the Expert Group on Business Cycles projects significantly below-average economic growth of 1.3% in 2025, slowing further to 0.9% in 2026.[2] This forecast reflects expectations of a weak second half of 2025 and is based on the technical assumption that international tariffs will remain at current levels.