The Swiss Household Appliance Industry Does Not Expect Another Decline
Published: Tuesday, Jul 18th 2023, 15:00
Updated At: Friday, Oct 13th 2023, 14:12
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The second quarter of 2023 saw a decline in the performance of companies in the Swiss Electrical Appliances for Household and Business (FEA) association. 18% of firms reported "poor" earnings, compared to 9% in the first quarter, while 64% reported "satisfactory" (previously 52%) and only 18% "good" earnings (previously 39%). The main causes of the downturn were the general economic downturn, inflation and the uncertainty caused by the Ukraine war. Additionally, the lack of skilled labour, which has recently caused delays in construction, may have been underestimated. Despite this, companies remain optimistic for the new quarter, with 32% expecting better, 57% the same and 11% worse performance. Half of the firms also expect an increase in orders.
©Keystone/SDA
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