The Swiss business world is divided between optimists and pessimists, according to the latest survey carried out by the banking giant, UBS.

The survey of 3,800 firms, released on Tuesday, shows big differences in opinion about the economic outlook from sector to sector.

The financial and pharmaceutical sectors as well as service industries are most upbeat about their prospects for the year. Telecommunications, the chemical industry and the electrical engineering branch are also optimistic about their long-term prospects.

But less satisfied are the clothing and textiles industry, the construction sector, tourism and watchmakers.

The survey, carried out in November, shows a majority of those questioned expect a modest increase in sales this year. Most also expect to maintain their income at current levels.

Layoffs

Watch producers, logistics and the metal industry all expect to be laying people off this year. However, the IT sector and service industries say they will be taking more staff on.

There appears to be little difference in economic development between the regions. Fears that the southern canton of Ticino would be seriously affected by the closure of the Gotthard tunnel late last year have failed to materialise.

swissinfo with agencies

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