<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

瑞士指數 MSCI ETF - iShares

瑞士經濟在 2025 年第四季度增長了 0.2%，從第三季度的 0.5% 收縮中恢復過來。全年國內生產總值（GDP）增長了 1.4%，略低於瑞士國家銀行預測的 1.5%。服務業表現優於其他行業，而出口受到美國關税的影響。展望未來，預計 2026 年第一季度出口將小幅反彈。瑞士國家銀行可能會考慮降低當前為 0% 的利率，以支持經濟應對強勢瑞士法郎和國際貿易緊張局勢帶來的挑戰

Swiss Economy Swings to Growth

- 瑞士經濟在 2025 年最後一個季度回升，GDP 增長 0.2%。  
- 2025 年全年經濟增長 1.4%，低於 1.5% 的預期。  
- 美元關税和瑞士法郎升值影響出口和企業活動。

瑞士經濟實現增長