Swiss firms filed a record number of bankruptcies in 2009, which jumped 26.7 per cent from the previous year’s total to 5,105.
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December alone saw 558 bankruptcies, the highest monthly total of the last decade, according to figures compiled by credit information firm Dun & Bradstreet.
But all was not bleak in 2009, as 35,380 new companies were registered, a more modest decline of 4.3 per cent on 2008. This was the third highest number of new companies set up in the last ten years.
Economic output declined 1.6 per cent in 2009, according to government figures, and unemployment is expected to peak at around five per cent this year.
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Swiss economy “doing relatively well”
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Speaking at a presentation of the IMF’s latest European forecast in Zurich, Luc Everaert said this was surprising given the importance of the financial sector to the Swiss economy. However, overall Europe’s recovery will be slow. Everaert, assistant director of the European Union policies and regional studies division at the Washington-based IMF, is no stranger…
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The Swiss Economic Institute (KOF) revised its forecast down on Friday by predicting gross domestic product (GDP) will sink by 3.4 per cent. Government figures, released on Tuesday, predicted a 1.7 per cent drop year on year. The State Secretariat for Economic Affairs (Seco) had actually painted a more optimistic picture than during the summer,…
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A visit to the OSEO labour facilitation agency in Vevey, where staff help young people to improve their skills and find work. (November 2004, swissinfo)
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