Swiss machine industry on upward path
Switzerland's heavy machine industry is continuing to benefit from the economic upswing, according to the latest industry figures released on Wednesday.
The sector’s representative body, Swissmem, says firms reported an increase in turnover of 5.7 per cent for the first quarter, compared to the same period last year. Incoming orders were up 10 per cent.
Sales rose by 10.5 per cent in the domestic market and by 3.4 per cent abroad.
Exports increased by 9.1 per cent year on year with strong growth in the United States, the European Union and Asia. Exports to China showed the strongest expansion, up by 49 per cent.
However, Swissmem expects the rest of the year to see a flattening out of growth prospects as the industry begins to feel the effects of the US economic slowdown.
swissinfo with agencies
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