Switzerland's economy grew faster than expected in the first quarter, supported by resilient domestic demand and a stable business environment. GDP expanded 0.7% quarter-over-quarter, beating forecasts of 0.5% and accelerating sharply from 0.2% growth in the previous quarter.

However, the annual growth rate slowed to 0.5%, down from 1.0% previously, indicating that while economic momentum improved during the quarter, overall growth remains modest compared with a year ago.