The Swiss retail sector enjoyed a boom over the summer. Real-time indicators now suggest that this upturn is coming to an end. The slowdown began when case numbers started to rise again and even before the Federal Council announced new tighter restrictions in October. This once again indicates that the impact of the public’s personal perceptions on purchasing behaviour is just as significant as the restrictions imposed.
In contrast to the retail sector, there was no summer boom in industry. Order intake has been falling since summer 2018. Coronavirus has exacerbated the situation significantly. The mechanical engineering, electronics and metal industries have lost around 30 percent of their order volume over the past two years. There is currently no indication of a sustainable upturn any time soon. The investment climate remains bleak.