THE MICROTECHNOLOGY INFORMATION PORTAL/THE SHOW
01.03.2023
K - Organizations
Technology industry: better than feared and cautiously optimistic
The performance of the Swiss technology industry (mechanical and electrical engineering and related technology sectors) has improved in the past year.
Compared with 2021, sales were up by 9.4%, exports by 5.6%, and new orders received by 2.4%. This partially offset the slump in orders experienced in the third quarter of 2022. For the current year, businesses’ expectations are cautiously optimistic. Having said that, there are significant uncertainties, and cost pressure is high. High inflation worldwide will result in further interest rate moves by central banks, which is likely to cool economic activity worldwide and dampen demand for capital goods. Moreover, the risk of energy shortages next winter is still with us. The biggest risks, however, lie in a further escalation of the war in Ukraine and exacerbation of the tensions between China and the USA. The challenges for industry primarily lie with the skills shortage and access to world markets. Swissmem is calling for our relationship with the EU to be rapidly placed on a new footing and for further free trade agreements to be concluded.
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