We have described the current economic cycle as being driven by the technology sector and by innovation. In this respect it echoes the 1990s, which were marked by the growth of the Internet and the mobile telephone. Today, innovation is found on varied fronts.These include the transition from PC to mobile, robotics, the convergence of life sciences and technology, low-cost ‘big data’ processing, electric cars.
An iconic family business in the heart of Zürich, established in 1836 and now in the sixth generation of its management, is famous across the world for its delicious Luxemburgerli truffles, pralines, tarts and pastries.
Yves Bonzon sees the US market no longer responding to QE moves by the Fed, suggesting that while a correction in equities and Treasuries may come in the summer, the year should still progress positively.
The founder of the World Economic Forum says that Switzerland has retained its top place in the Global Competitiveness Index for the fifth year running as a result of the excellence of its economic and business performance, its human capital and the strength of its public institutions.
After four months of consecutive rises, the euro area flash manufacturing PMI slipped by 1 point to 53.0 in February, below consensus expectations (54.0). In contrast, the euro area services PMI inched up marginally from 51.6 in January to 51.7 in February, below consensus expectations (51.9). As a result, the composite PMI which is the […]
Just as Ben Bernanke passes the baton to the new Chair of the Federal Reserve, increasing tensions in emerging markets have reminded us that the main structural risk remains deflation, not inflation as his detractors have always claimed.
The ISM manufacturing survey published on Tuesday was surprisingly weak. The headline index fell sharply from 56.5 in December to 51.3 in January, well below consensus estimates (56.0), and its lowest reading since May 2013. The deterioration was quite broad-based, with the fall in the ‘new orders’ sub-component particularly striking, as it plunged from a […]
In Q4 2013, US real GDP growth was quite strong for the second quarter in a row. Economic activity expanded by 3.2% q-o-q annualised, in line with consensus expectations. On a year-on-year basis, GDP growth accelerated from 2.0% in Q3 to 2.7% in Q4. Strong pick-up in private final demand growth Details of the report […]
Today’s data on existing US home sales revealed that sales rebounded marginally m-o-m in December. Nevertheless, the fall registered over the past few months was substantial. Sales fell by 7.8% q-o-q (not annualised) in Q4 2013 (see chart below). The sharp increase in mortgage rates witnessed last year and still relatively tight credit conditions are […]