Swiss Industrial Sales to Drop as Orders Sink for Fifth Quarter
By Patrick Winters -
2012-08-22T11:17:32Z
Swiss Industrial companies may have declining sales in the second half after a 1.4 percent rise in the first six months, mechanical and electrical engineering trade group Swissmem said in a statement.
New orders for the 290 members of Swissmem, which include ABB Ltd. (ABBN) and OC Oerlikon AG, dropped for a fifth successive quarter as declining exports to European Union countries and pricing pressure on exports from Switzerland’s strong franc mean “there will be no short-term improvement,” Swissmem said.
To contact the reporter on this story: Patrick Winters in Zurich at pwinters3@bloomberg.net
To contact the editor responsible for this story: Benedikt Kammel at bkammel@bloomberg.net
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