0931 GMT - Swiss economic growth was stronger than expected in the first three months of the year, raising the prospect that the Swiss National Bank will not take interest rates into negative territory after a likely cut to zero percent next month, Capital Economics' Adrian Prettejohn says in a note. Swiss GDP grew 0.7% in the first quarter, the fastest since the start of 2023. This wasn't due to tariff front-running as in Ireland other European nations, since SNB data showed the trade surplus narrowed in January and February, he says. However, growth will probably slow as trade uncertainty hits, though it will likely be stronger than peers. Household spending and higher real income should help as inflation cools, Prettejohn says. (edward.frankl@wsj.com)
(END) Dow Jones Newswires
May 15, 2025 05:31 ET (09:31 GMT)
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