瑞士经济在服务驱动下,在2025年的Q4增长0.2%,尽管关税和坚挺的法郎导致出口逆风。 Switzerland’s economy grew 0.2% in Q4 2025, driven by services, despite export headwinds from tariffs and a strong franc.

瑞士经济在2025年第四季度增长了0.2%,扭转了上个季度0.5%的收缩趋势,全年增长率为1.4 % , 高于2024年的1.2%。 Switzerland’s economy grew 0.2% in the fourth quarter of 2025, reversing a 0.5% contraction in the prior quarter, with full-year growth at 1.4%, up from 1.2% in 2024. 出现反弹的驱动因素是服务部门表现强劲,而工业产出则保持平坦。 The rebound was driven by strong services sector performance, while industrial output remained flat. 美国对瑞士出口的关税最初为39%,后来在11月降至15%,因为一项交易涉及瑞士在美国投资2 000亿美元,对药品和奢侈品等出口重工业造成沉重负担。 A U.S. tariff on Swiss exports, initially 39% and reduced to 15% in November after a deal involving a $200 billion Swiss investment in the U.S., weighed on export-heavy industries like pharmaceuticals and luxury goods. 强势的瑞士法郎受全球不确定性的推动,也使出口更加昂贵。 The strong Swiss franc, fueled by global uncertainty, also made exports more expensive. 瑞士国家银行预测2026年的增长率约为1%,没有立即计划进一步降低利率,尽管未来可能出现负利率。 The Swiss National Bank projects 2026 growth of about 1%, with no immediate plans to cut interest rates further despite potential future negative rates. 关于工业产出和家庭支出的最后数据定于2月27日提交。 Final data on industrial output and household spending are due February 27.