May 14, 2019 / 8:41 AM / 2 months ago

Swiss engineering sector sees Q1 orders fall 5.1%

ZURICH, May 14 (Reuters) - New orders to the Swiss mechanical and electrical engineering (MEM) sector fell 5.1% in the first quarter, industry group Swissmem said on Tuesday, citing a slowdown in key markets.

Sales fell by 1.1% year on year, while exports edged up 0.9%.

"Swissmem anticipates a sideways trend in business by the MEM industries throughout the remainder of 2019. Given the considerable economic risks that exist worldwide, it is important to avoid home-grown uncertainties," it said.

It cited in particular Swiss referendums on Sunday on reforming the corporate tax system and adopting tighter gun controls -- whose passage could avoid potential clashes with the European Union -- and progress on a stalled EU treaty.

Swissmem said members' expectations for the next 12 months were subdued, with 26% of companies anticipating an increase in foreign orders, down from 48% a year ago. Just under half expect no change in orders, and a quarter anticipate a fall in orders. (Reporting by Michael Shields; editing by Brenna Hughes Neghaiwi)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below