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The Basel Chamber of Commerce has conducted its spring survey for 2019. The responses have revealed that the Basel economy is currently in great shape. Companies are expecting this to remain the case, despite the expectation of a slight economic cooling.
The Basel Chamber of Commerce (HKBB) interviewed C level management executives of its member companies as part of its spring survey. Half of the respondents assessed the business trend as being good at the current moment, while one third described it as satisfactory, as outlined in a press release.
Andreas Meier, Head of the Members & Network Department and HKBB Executive Board member, commented on the future outlook: “The outlook for the business development for the second half of the year reveals that companies are expecting a slight slowdown in 2019. However, this will be from a high level and shouldn’t be too dramatic overall”. In this context, half of all respondents also expected no change in the course of business, with one fifth even anticipating positive development.
In terms of challenges, it is clear that uncertainty can have an adverse impact. This uncertainty may manifest itself in many forms, for example in connection with Brexit, trade wars or the current state of affairs in countries such as Italy and France – but also in fiscal reforms and the framework agreement with the EU from a Swiss perspective. “It is therefore important that clarity and, by extension, planning security can be created quickly, at least in terms of Swiss issues”, Meier explained. According to the survey, a majority of companies from the Basel region expect that the AHV tax proposal to be adopted at national level.
A glance at the indicators of investment activity and personnel development rounds off the positive impression of the economy delivered by the survey. Meier concluded: “Well thought-out investments in new technologies, in digitalisation and in innovative products remain the dominant forward strategy for the majority of companies in order to best equip themselves against the uncertainties looming ahead in the near future”.