Services sector sees clear economic upturn

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(21.06.2023) Swiss business leaders have shown relative optimism at the beginning of 2023. According to a survey conducted by several Swiss universities, the Swiss Managers Survey (SMS) business climate index has increased by 4.2 points compared to 2022.

Only 12.5% of respondents expressed dissatisfaction with the current business situation, while a large majority considered it "good" or even "very good". The services sector was particularly buoyant, with the SMS business climate index up 19.5 points year-on-year. However, industrial companies perceived a slight deterioration in their situation since last year.

Over half of the companies anticipate positive business prospects for the next six months, while just over a third expect an unchanged situation. Therefore, the expected business climate index remains stable on a year-on-year basis.

Swiss companies demonstrate a strong capacity for innovation, and the superior quality of their products tends to favor them in global markets.

However, the high demand for skilled labor and the resulting upward pressure on wages pose significant challenges for businesses. Small and medium-sized enterprises (SMEs) in particular face greater difficulties in hiring top talent in the currently competitive job market.

Furthermore, supply chain risks remain a major source of uncertainty, especially for industrial companies. In the services sector, financial risks and cyber risks are identified as the main challenges faced by businesses, according to the survey respondents.


Last modification 21.06.2023

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