Swiss entrepreneurs saw their confidence strengthen in July. Here, Hans Gersbach, KOF co -director. (archive)
Photo: KEYSTONE/MICHAEL BUHOLZER
Swiss entrepreneurs saw their confidence strengthen in July, so before the blow of the American customs duties by 39%, according to the KOF. The business situation as well as the prospects in the short term reassure them more.
The periodic report of the Zurich Conditional Studies Center (KOF) published Thursday has underlined a continuous increase since April and a morale greater than July 2024. The “ other services’, wholesale and hotel and hotel trade have displayed the best improvements. The morale in the financial services and insurance sector has also been invigorated but more slightly.
On the other hand, the manufacturing industry (exposed to the American market) and construction are more fearful about the future. The retail and project engineering displayed deteriorated perspectives. For these last two branches, the pollsters even speak of ‘a little darker’ perspectives for six months.
‘The exporting companies strongly linked to the American market have not yet completely recovered from the pricing shock of April’, underlines the KOF. ‘However, their production plans are no longer as cautious as at the time.’
The question of inflation, the 7,000 companies in the private sector questioned lean for 1.1%. They predict that consumer price inflation will be lower over the next twelve months than it has been so far. In the longer term, five years, they opt for 1.8%.
/ATS
