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The Chamber of Commerce of the two Basel cantons has carried out an economic survey for its latest sentiment barometer. This has shown that the Basel economy is doing well at the moment and also predicts that it will remain stable at a good level going forward.
In autumn 2018, the Chamber of Commerce of the two Basel cantons (HKBB) carried out a survey among its members for the sentiment barometer. Around half the companies surveyed rated their current course of business as “good” and one in three said it was “satisfactory”. Four in five companies regard the current situation as being “better than” or “the same as” a year ago. According to the sentiment barometer, the chemicals, pharma and life sciences sectors are “as strong as ever”, though their forecasts are cautious.
More than half of companies across all sectors expect business performance to remain on a similar level in future, while one in three in fact envisage an improvement. In this respect, the two indicators of investment activity and personnel development above all contributed to the positive picture presented by the HKBB, which projects “stability at a good level” for the future. Investment was expected to grow by 31 per cent of companies and remain the same by 55 per cent. Enhanced personnel development is expected from 26 per cent of survey respondents and 66 per cent believe it will remain as it is now.
Factors causing uncertainty include Tax Proposal 17, with the members of the HKBB regarding the acceptance of this proposal as “essential for the positive development of the Swiss economy”. By contrast, the Self-determination Initiative and the Corporate Responsibility Initiative are seen as “poison for the Swiss workplace”.
The companies surveyed hope that an agreement will be reached with the EU in the shape of an institutional framework agreement. A shortage of skilled professionals was mentioned as a factor “hampering growth”. The trade war between China and the USA also casts a shadow over the future development, although the HKBB highlights the positive economic prospects of both countries.