Swiss GDP Shrank for First Time Since 2023 Before US Tariff Deal

Switzerland’s economy contracted in the third quarter for the first time in more than two years, highlighting the impact outsized US tariffs had before officials secured a trade deal last week.

Gross domestic product adjusted for large sport events shrank 0.5% from the previous three months, according to a first government estimate published on Monday. That compares with an increase of 0.1% in the April-June period and is much worse than the 0.1% drop predicted by economists in a Bloomberg survey.