BRUSSELS (dpa-AFX) - Switzerland's economic growth accelerated in the first quarter on a notable rebound in exports to the US ahead of expected tariff hikes, official data revealed on Monday.
Gross domestic product expanded by an adjusted 0.8 percent sequentially after rising 0.6 percent in the fourth quarter of 2024, the State Secretariat for Economic Affairs, or SECO, reported.
On a yearly basis, economic growth improved to 2.2 percent from 1.3 percent a quarter ago.
On the expenditure-side, private consumption rose at a slower pace of 0.2 percent after a 0.5 percent gain. Likewise, the increase in government spending slowed to 0.4 percent from 0.6 percent.
Equipment and software investment and construction investment advanced 0.4 percent and 0.8 percent, respectively.
Exports of goods increased 5.0 percent and that of services rebounded 1.4 percent. At the same time, imports of goods and services surged 9.7 percent and 1.7 percent, respectively.
The SECO said exports to the US increased sharply, pointing to possible front-loading in response to the US trade policy.
On an unadjusted basis, GDP expanded 0.5 percent quarterly and 2.0 percent on a yearly basis in the first quarter.
Earlier, the SECO projected the economy to grow 1.4 percent this year, followed by 1.6 percent expansion in 2026.
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