<div id="readability-page-1"><div> By Ed Frankl <pre></pre> Switzerland's economy rebounded in the final quarter of 2025, shrugging off some of the U.S. tariff-related impact that hit activity earlier in the year. Gross domestic product expanded 0.2% in the three months through December, bouncing back from the 0.5% contraction in the third quarter of the year, Switzerland's statistics office said Monday. The economy grew 1.4% over the whole of 2025, faster than the 1.2% of 2024, but below the Alpine nation's average growth, it said. &#34;The challenging international environment slowed the export-oriented industry. By contrast, the services sector grew at an above-average rate by historical standards,&#34; the statistics office noted. Switzerland's export-oriented economy, which is home to luxury watchmakers and pharmaceutical companies, was hit hard by U.S. tariffs. The Trump administration agreed to a 15% duties on Swiss goods imports since mid-November, down from the 39% it raised in July. There remain tariff exemptions on certain exports such as pharmaceuticals, certain chemicals, gold and coffee. &#34;Looking ahead, we expect a small rebound in exports in the first quarter as firms increase shipments to the U.S. in response to the tariff deal,&#34; Capital Economics economist Adrian Prettejohn said in a note to clients. The 1.4% growth in 2025 is a little lower than the Swiss National Bank's forecast of 1.5% it made in December. For 2026, the SNB expects growth to slow to around 1%. Alongside tariffs, companies in Switzerland have also struggled due to the appreciation of the Swiss franc, as investors flowed into the safe-haven currency amid last year's geopolitical tensions. A higher franc against other currencies makes Swiss products more expensive abroad. The SNB hasn't ruled out cutting its main interest rate into negative territory from 0% currently, though its policymakers have said they want to avoid doing so due to its impact on savers. Final growth data with details on industrial production and household consumption is due on Feb. 27. <pre></pre> Write to Ed Frankl at edward.frankl@wsj.com <pre></pre> (END) Dow Jones Newswires February 16, 2026 04:59 ET (09:59 GMT)Copyright (c) 2026 Dow Jones &amp; Company, Inc.</div></div>

瑞士法郎 做多 - CurrencyShares

瑞士指数 MSCI ETF - iShares

瑞士经济在 2025 年第四季度增长了 0.2%，从第三季度的 0.5% 收缩中恢复过来。全年国内生产总值（GDP）增长了 1.4%，略低于瑞士国家银行预测的 1.5%。服务业表现优于其他行业，而出口受到美国关税的影响。展望未来，预计 2026 年第一季度出口将小幅反弹。瑞士国家银行可能会考虑降低当前为 0% 的利率，以支持经济应对强势瑞士法郎和国际贸易紧张局势带来的挑战

Swiss Economy Swings to Growth

- 瑞士经济在 2025 年最后一个季度回升，GDP 增长 0.2%。  
- 2025 年全年经济增长 1.4%，低于 1.5% 的预期。  
- 美元关税和瑞士法郎升值影响出口和企业活动。

瑞士经济实现增长