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In the technology sector (formerly the MEM sector), sales increased by 4.9 percent and goods exports by 2.8 percent in the January-March 2023 period compared to the same period of the previous year. The business situation of the Swiss tech industry is still good at the moment, according to the association’s statement on Tuesday.
However, the 4.8 percent decline in incoming orders and the low level of the purchasing managers index PMI indicate that there will be significantly more difficult days in the coming months. The association immediately warns of a bouquet of danger. For example, rising interest rates cool the global economy. There are other major economic risks as well, such as the war in Ukraine and tensions between China and the United States.
Swissmem now calls the industry the tech industry and no longer the MEM industry, but it basically means the same thing. Umbrella organization sees itself as the representative of machinery, electricity and metal industry (MEM) and related technology sectors. These include Swissmem such as sensor technology, photonics, robotics, additive manufacturing and industrial communication technology (ICT).
Swissmem spokesperson Ivo Zimmermann told AWP that the figures for the technology industry are the same as those previously published under the MEM industry heading. The same companies are represented. The old title is not enough for all companies represented in the association for a long time. Additionally, as one survey has shown, the term MEM industry has never been fully understood by the general public.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
