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Business confidence subdued

Wednesday, 5 October 2022 06:30

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Economic sentiment is turning sour in Switzerland.

In a survey by Deloitte, Chief Financial Officers say they are more worried about the situation now than they were six months ago. 

Then, 22% of business leaders said they expect growth to slow – now it’s 37%. 

But the authors stress that while this is a concern, it doesn’t mean a collapse in confidence. 

The main worries are the current geopolitical situation, inflation, energy prices and supply chains. 

Businesses expect interest rates in Switzerland to rise a further 1.3% over the next 12 months, but inflation is expected to settle at around 2.4% in 2 years time. 

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