Good - But good enough?

However, the positive underlying feeling is not misplaced. At the beginning of July, economic activity in the Swiss economy was already at over 93% of the average for the past three years. This has been shown by an analysis of real-time data from Geneva private bank Lombard Odier. The bank analysed figures from seven categories: imports, exports, mobility, retail, trade, food consumption, work attendance, and air pollution. Put together, these give an up-to-date picture of the state of economic recovery compared with the average for the three years preceding the crisis. Moreover, the emergency loan programme set up by the federal government with the banks in “Sully” fashion (i.e. at lightning speed) has also been used far less than had been expected. Apparently, companies are not in such dire need of emergency capital after all.

6

Resilient? Definitely - up to a point