19.08.202606:46:22UTC+00Swiss Industrial Output Unexpectedly Rebounds

Switzerland’s industrial production rose by 5.5% year-on-year in the second quarter of 2026, overturning market expectations of a 4.7% decline and rebounding from an upwardly revised 7.6% drop in the previous quarter. The recovery was largely driven by manufacturing, which grew 6.1% after contracting 7.7% in Q1, supported in particular by a sharp surge in pharmaceutical output (up 15.5% vs down 21.4% previously) and stronger production of wood, paper, and printing products (up 5.9% vs down 2.0%).

By contrast, production of transport equipment slumped 15.8% (vs a 0.8% increase in Q1), while machinery and equipment output fell 5.1% (vs a 3.4% rise). Mining and quarrying output declined 2.9% (vs a 3.4% increase), and electricity supply contracted 2.0% (vs a 6.8% drop in the previous quarter).

Overall production, including construction, increased by 5.1%, a sharp turnaround from the 6.5% contraction recorded in Q1. On a seasonally adjusted quarterly basis, industrial activity jumped 9.7%, following an upwardly revised 1.8% decline in the prior period.