Swiss Industry Getting Worried About German Economy

In Switzerland, entrepreneurs are getting seriously worried about Germany’s downward trend of the economy, which is one of the Swiss Confederation’s most important trading partners. For the Swiss mechanical engineering, electrical engineering and metalworking industries, which are strong exporters, Germany is by far the most important sales market. For this reason, Stefan Brupbacher, director of the industry association Swissmem, is looking to Germany “with great concern.” “When the industrial economy in Germany weakens, this inevitably has a negative impact on the business performance of many companies in the Swiss tech industry,” Brupbacher told the Frankfurter Allgemeine Zeitung. In the second quarter, he said, exports to Germany fell by 5.5%. In addition, very many Swiss industrial companies have production capacities or at least a subsidiary in Germany.