Although public perception of the Swiss economy deteriorated again slightly overall in the fourth quarter of 2019, there have been signs of a slight upward trend since November 2019, which can be attributed in particular to the improved reputation of companies in the real economy.

The Swiss Economy Reputation Index (SERX) is characterised by the following developments in the forth quarter of 2019:

  • The SERX recorded a minus of 0.3 index points in the current period and now stands at 88.3 index points. It is thus still far from the peak of September 2017 (101 index points).

The graph shows the shift in the reputation of SERX according to SRI® per quarter. Reading example: In the 4th quarter 2019, SERX has lost -0.3 SRI® index points.

  • After two quarters of severe damage to the reputation of companies in the real economy (especially in the transport & logistics and retail sectors), the public trust in real economy improved significantly in the fourth quarter of 2019.
  • In the Transport & Logistics sector the appointment of Vincent Ducrot as the new head of SBB and the Christmas parcel record at Swiss Post contributed significantly to this. The already positive perception of the life science industry improved further, with Roche in particular performing strongly and offering a good outlook. After heavy losses, the retail sector is also showing signs of recovery (Christmas sales, wage trends).
  • By contrast, the luxury goods sector (Weko decision against Swatch) and the telecom sector (failed Sunrise-upc merger) suffered above-average reputational losses.
  • After two quarters of rising reputation, the financial sector again suffered severe reputational losses in the fourth quarter. Due to the Khan affair at Credit Suisse, these losses affect almost exclusively the global banks. The situation at the domestic banks is virtually unchanged. Insurers were again able to expand their status as the best-reputed Swiss sector.

SERX – Swiss Economy Reputation Index

The Swiss Economy Reputation Index (SERX), which is currently made up of 140 private and state-related companies, shows on a consolidated basis how the public perception of the Swiss economy and its key sectors has developed over time. Because of its sedimented calculation (Sedimented Reputation Index®) and the broad valuation basis determined on a daily basis (on a sedimented basis an average of around 20,000 reputation-relevant public contributions are charged per day), SERX is a valid indicator of public trust in the Swiss economy and its key sectors.