Swiss economy outperforms weak European industry

The Swiss economy benefited from strong expansion in the chemical and pharmaceutical industry in the second quarter of 2024. The weak economy in Europe, on the other hand, is a drag. + Get the most important news from Switzerland in your inbox In the period from April to June 2024, real gross domestic product (GDP) increased by 0.5% on an adjusted basis compared to the previous quarter, which was "slightly above average", as announced by the State Secretariat for Economic Affairs (Seco) on Tuesday. GDP had grown by 0.3% in each of the previous two quarters. Weak industry in Europe According to the Seco figures, value added in the manufacturing sector, i.e. in traditional industry, grew at an above-average rate of +2.6% in the second quarter. The chemical and pharmaceutical industry in particular (+8.4%) achieved strong quarterly growth thanks to the dynamic development of exports. + Who benefits from Swiss free trade agreements? "The Swiss sector mix with the strong pharmaceutical ...