Switzerland's machine industry expects an export-led recovery this year. The optimism is based on fourth quarter results for 1999, when orders went up 12 per cent compared with the same period in the previous year.This content was published on February 29, 2000 - 18:05
Switzerland's machine industry expects an export-led recovery this year. The optimism is based on fourth quarter results for 1999, when orders went up 12 per cent compared with the same period in the previous year.
"The forecasters are predicting that orders will go up by ten per cent this year," said Johann Schneider-Amman, president of Swissmen, the Swiss Mechanical and Electrical Engineering Industry.
The upturn at the end of the year improved the overall picture, limiting the drop in orders to seven per cent. Results were particularly encouraging on the domestic front, where orders went up 28 per cent in the last quarter.
On the export front, annual growth was a modest three per cent, rising to SFr 52 million. Sales to European Union countries went up by less than two per cent.
"European export results were the most disappointing," confirmed Thomas Daum, director of Swissmem.
Exports to America and Asia were healthier, with growth rates of 18.7 and 6.6 per cent respectively. But this was not enough to compensate for the overall downturn in Swissmem's business figures, said Mr Daum.
From staff and wire reports
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