Northern Switzerland Basel economy optimistic about the second half of the year

After a mixed start to the year, member companies of the Basel Chamber of Commerce are cautiously optimistic about the second half of the year. This was the result of an economic survey published on Thursday.

According to the Chamber of Commerce, 10 percent expect business to be very good and over 80 percent expect it to be good or at least satisfactory. A slight economic recovery and positive momentum on the global markets have been noticeable since April, according to the local business community.

The companies surveyed looked back on a difficult fourth quarter of 2023 and a challenging first quarter of 2024, according to the report. One of the main reasons for the economic weakness was the economic stagnation in Germany, Switzerland's most important trading partner.

According to the press release, the life sciences sector once again had a stabilizing influence. The region's leading industry is not subject to boycotts in the wake of geopolitical conflicts and remains virtually unaffected by economic fluctuations.