Category Archive: 3.) Investec

Nearly two thirds of Swiss support EU framework agreement, suggests poll

Switzerland and the EU have been working at failing to agree on a new agreement on Switzerland’s relationship with the EU for sometime now. One point of negotiating leverage used by Switzerland is that Swiss voters would reject the deal proposed by the EU in a referendum. However, a recent poll suggests that might not be true.

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Real Swiss salaries up most in 5 years

On 30 April 2021, Switzerland’s Federal Statistical Office released salary data for 2020 which showed a 1.5% rise in real salaries compared to 2019. © Suwat Supachavinswad | Dreamstime.comIn 2020, a 0.8% rise in nominal salaries was boosted by inflation of -0.7% bringing the total increase in the real average Swiss salary to 1.5%. The last time salaries rose this much was in 2015 when the real increase was 1.5%. In both 2015 and 2020...

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Minimum wage hurting young people in Swiss canton

Around three years ago, the Swiss canton of Jura introduced a minimum wage of CHF 20 an hour (US$ 21.65). Now there is political pressure relook at the move, according to RTS.

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Swiss bankruptcies fell by 7 percent in 2020

In 2020, the Covid-19 pandemic hit the Swiss economy. GDP fell by 2.9% compared to 2019. However, despite the fall in economic output the number of bankruptcies fell by 6.7% compared to 2019.

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Farming lobby hurting Swiss chocolate sector, says industry association

Swiss chocolate sales went into steep decline in 2020, according to ChocoSuisse, Switzerland’s chocolate industry association. The amount of chocolate produced in Switzerland in 2020 was 10% lower than in 2019 and sales revenue was down by 14.5%, a sharp drop.

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Swiss parliament demands cabinet reopen restaurants and theatres

A recent parliamentary vote on whether to issue a formal request to the Federal Council, Switzerland’s executive, to reopen restaurants on 22 March 2021, found a majority of 97 to 90, according to Le Matin.

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Vaccine delays costing Switzerland up to 100 million francs a day

A recent study by Swiss National COVID-19 Science Task Force calculates that vaccination delays are reducing Switzerland’s national output (GDP) by between CHF 50 – 100 million per day, according to RTS.

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Swiss Inflation turns negative in 2020

During 2020, average annual inflation was –0.7%, according to Switzerland’s Federal Statistical Office (FSO). In December 2020, Switzerland’s consumer price index (CPI) fell by 0.1% compared with November 2020. Compared to December 2019, prices in December 2020 were 0.8% lower. Annual inflation reached -0.7% across the full year.

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Company bankruptcies fell sharply in Switzerland in 2020

Despite the economic impacts of the coronavirus, significantly fewer Swiss companies went bankrupt in 2020 than the year before, according to the business data company Bisnode.

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Large government budget deficit in 2021 for Switzerland

On 16 December 2020, Switzerland’s Council of States, the nation’s upper house, accepted a 2021 budget deeply in the red following its acceptance last week by the National Council.

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Swiss economy to slide less than feared, according to new forecast

An updated forecast published this week by the Switzerland’s federal government is less negative than forecasters feared in the middle of the year.

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Pandemic increases demand for second homes in Switzerland

Demand for second homes has risen since restrictions related to coronavirus were loosened, according to real estate company Wüest Partner.

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Referendum: Swiss to vote on ending EU agreement

On 27 September 2020, Swiss voters have many decisions to make. This time the list of votes includes decisions on fighter jets, hunting, tax deductions for child care and paternity leave. Probably the most important among them is a decision on whether to accept a proposal to end the EU agreement on the free movement of people between Switzerland and the bloc, known as the Limitation Initiative.

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Switzerland ranked 4th for economic come back, according to study

A report published this week places Switzerland fourth on a list of countries best positioned to make an economic rebound after the coronavirus downturn. The analysis looks at overall health resilience, pre-existing structural strengths and weaknesses in 122 countries.

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Unemployment up in second quarter of 2020 in Switzerland

Switzerland’s unemployment rate rose from 4.2% to 4.6% in the second quarter of 2020, according to a recent survey that measures unemployment more broadly than Switzerland’s official unemployment measure. The method used for these calculations is the one defined by the International Labour Organisation (ILO), which includes all available job seekers – ILO definition of unemployment.

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Swiss retail sales up 30 percent in May after COVID-19 measures eased

Recently published figures show a overall jump of 30.2% in retail sales in May 2020 compared to April 2020. May’s rise of 30.2% follows falls of 6.5% in March and 13.7% in April.

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Swiss salaries rise faster than inflation for the first time in 2 years

In 2019, Swiss salaries were on average of 0.9% higher than the year before. A nominal rise of +0.9% combined with low inflation of 0.4% delivered a real boost of 0.5% to someone earning an average salary in Switzerland.

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Swiss government forecasts 2021 deficit but no tax hikes

The coronavirus is set to knock a CHF 1 billion hole in Switzerland’s federal budget for 2021, according to a press release. Without the virus the budget was CHF 2.2 billion in the black. Post virus the budget is now CHF 1 billion in the red. The virus is expected to add CHF 2.0 billion to next years spending. The extra money is earmarked for SARS-CoV-2 tests, business loan guarantees and support to the sports sector.

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Swiss National Bank forecasts deflation until 2022

On 18 June 2020, the Swiss National Bank (SNB) said it would maintain its negative rate of interest (-0.75%) and remains willing to intervene more strongly in the foreign exchange market.

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Coronavirus: new cases stable with small rise in deaths in Switzerland

In the seven days to 12 June 2020, the number of new SARS-CoV-2 infections recorded in Switzerland was 127. A similar number of new cases was recorded in the week before (108) and the week before that (121), according to Worldinfometer.com.

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