Credit Suisse: Hotels/Catering and MEM Industry to Suffer Most from Strong Swiss Franc in 2015 Dienstag, 03. Februar 2015 - 10:05
Credit Suisse publishes its Sector Handbook 2015
Zurich, February 3, 2015Credit Suisse has today published its Sector Handbook 2015. The abandonment of the EUR exchange rate floor and subsequent appreciation of the Swiss franc are likely to dominate the agenda for many sectors this year. Credit Suisse economists expect hotels and catering, the machinery, electrical engineering and metals (MEM) industry and the retailing sector to suffer most from the renewed strength of the Swiss franc. By contrast, the bulk of the domestically oriented service sectors should remain relatively unaffected. Versus the strong momentum of previous years, these sectors are nevertheless losing a degree of traction – regardless of the current strength of the Swiss franc. For the first time, the Sector Handbook also includes an employment forecast at sector level. A total of round 0.7% of jobs are likely to be shed in the sectors negatively affected by the strength of the Swiss franc in 2015, i.e. hotels and catering as well as the industrial and trading sectors. The Credit Suisse economists nevertheless anticipate an increase in jobs across the economy as a whole as the business services and government-related sectors continue to create jobs in net terms. In the medium term, the Credit Suisse economists highlight above-average potential growth in the pharmaceutical, healthcare and medical technology sectors. Medium-term prospects are also favorable for the IT and consulting sectors.