Swiss CFOs have a pessimistic outlook due to trade wars

Swiss CFOs pessimistic, 58% expect economic deterioration Keystone-SDA

In the wake of the trade wars launched by US President Donald Trump, Swiss companies are assessing the future much more pessimistically, according to a survey by the consulting firm Deloitte.

Only 15% of the Chief Financial Officers (CFOs) of major Swiss companies (listed and unlisted) surveyed believe that there will be a positive development in the economy over the next 12 months; 58% expect a cooling. The CFOs were surveyed in two waves (120 CFOs in the first wave between February and March and 65 in the second between April 7-14. Between the first and second survey, there was a drop in confidence following the announcements of customs barriers in Washington.

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Particularly noteworthy is the fact that respondents also clearly rated their company’s financial outlook as negative. In March, 61% rated the outlook as positive and 18% negative. In April, a few days later, the picture changed completely: only 23% still considered the company outlook as bright, while 43% predicted a downward trend.

Adapted from Italian by DeepL/ac

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