Editions

The results of the semi-annual KOF Investment Survey point to a nominal increase in investment of 8.2 per cent in 2024, driven by technological progress and supported by the service sector. By contrast, industry and construction are reporting a slowdown or even a decline in their investment plans owing to funding shortages and a downturn in demand.

Although many Swiss firms see their business activities as being exposed to physical climate risks, they nevertheless view ecological change predominantly as an opportunity rather than a risk. Investment aimed at combatting climate change is accelerating and, in comparison with the EU, Switzerland is one of its pioneers. Having added a new block of questions to its investment survey, KOF can shed light on the economic impact of climate change from the perspective of Swiss companies.  

Russia’s invasion of Ukraine has lowered Swiss companies’ expected wage growth and, at the same time, raised their inflation forecasts. Small and medium-sized enterprises in particular, as well as companies in the manufacturing sector, expect to see higher prices in the long run. In purely arithmetical terms, the information provided by these firms translates into negative real wage forecasts, which are even more negative than they were before the war in Ukraine.

Swiss companies’ business remained fairly stable in August. July’s sharp rise in the KOF Business Situation Indicator was almost, but not quite, maintained. The business situation therefore remains favourable.

In order to mitigate the consequences of the coronavirus crisis for the self-employed and businesses, Switzerland has relied on three instruments: short-time working, income support for the self-employed, and so-called ‘COVID-19 loans’. Researchers have investigated which firms have made the most use of these instruments. One of their findings is that companies that were already in debt before the crisis have made particularly frequent use of COVID-19 loans.

Five years after the suspension of the minimum exchange rate of the Swiss franc, the manufacturing industry is still complaining about lower competitiveness on the eurozone markets and the excessive strength of the Swiss franc compared to the euro. For the majority of companies, the advantages and disadvantages of the negative interest rate policy balance each other out. However, as a special KOF survey shows, financial institutions have a very different view on the matter.

Total investment in Switzerland is set to lose momentum this year, as shown by the results of the semi-annual KOF Investment Survey. Although the respondents once again intend to increase their investment activities in the current year, they plan to do so to a lesser extent than in the last few years.  

In 2018, Swiss companies plan to increase their investment activities by around 8%. Remarkably, they intend to step up expansion investment as well as capital investment. These lively investment activities also reflect the healthy state of the Swiss economy.

According to the results of the semi-annual KOF Investment Survey, total investments by Swiss companies are set to rise in 2017. The respondents are planning to expand investment activities by around six per cent this year. This represents a slight upward correction of investment plans compared to the last Investment Survey.

In April 2017, the business situation of businesses in the private sector was significantly more favourable than during the previous month (see G 1). This means that businesses have been able to improve their situation continuously since the start of 2017. In addition, firms’ expectations concerning the course of business over the coming six months are more confident than previously. The Swiss economy has started the spring with a swing in its step.

In collaboration with Schweizer Radio und Fernsehen SRF, KOF has surveyed Swiss-based research economists regarding their opinions on the new Energy Act, which will be put to the vote on 21 May. The majority of the respondents are in favour of subsidising renewable energy and reducing energy consumption. They think this should be primarily achieved via taxes as opposed to other types of intervention.

The KOF Business Situation Indicator for the Swiss private sector improved in February 2017 for the first time in three months. Although, considered from a long-term perspective, the current business situation can be classified as rather less favourable, businesses were able to catch their breath a little bit in February in structural terms.

Swiss companies plan to increase their investment activities by around 4.5 per cent in 2017. The envisaged rise in capital investments and the substantial increase in planned growth investments indicate that the outlook among Swiss companies has become slightly more optimistic. These are the results of the KOF Investment Survey conducted in autumn 2016.

What are the implications of the so-called ‘fourth industrial revolution’? The KOF has for the first time surveyed economics researchers based in Switzerland to obtain their views. It was found that their opinions differ concerning the short-term effects on the labour market.

Brexit will be keeping Europe busy for a long time, and its long-term consequences are not yet foreseeable. According to a KOF survey, this means that the direct consequences are still negligible for Swiss exporters. However, Switzerland's negotiating position with the EU is not expected to be improved by Brexit.

The results of the latest KOF Investment Survey indicate a rise in total investment in 2016. According to the companies, there will be an approx. 4% expansion of investment activities this year. The results of the Spring Investment Survey 2016 thus confirm the outcome of the last survey in autumn 2015.