Only weak recovery in the graphic arts industry
Despite a return to positive growth since the second quarter, the recovery in the graphic arts industry is proceeding only slowly. As a result, the growth recorded so far appears very modest compared to the record declines of 2009.
Real gross value added in the graphic arts industry rose by 2.5% year-on-year in the third quarter of 2010. In the second quarter of 2010, value added growth amounted to 3.1 percent. This was announced by the Swiss Association for Visual Communication Viscom and the economic researchers at Bak Basel in a press release. The industry is suffering from the low euro exchange rate, which has massively increased import pressure.
In addition, a one-third increase in labor costs compared to neighboring countries and up to 15 percent higher paper prices in Switzerland reduced the competitiveness of the graphic arts industry. According to the "Viscom - BAK Index", the graphic arts industry is unlikely to see any significant recovery in the coming months in view of the once again gloomy economic outlook.
Positive impetus from the advertising industry
In the second and third quarters, there was clearly positive domestic economic momentum, particularly from the most important client, the advertising industry. However, demand in this sector slumped massively in 2009, as the report goes on to say. Despite the signs of recovery to date, the pre-crisis level is still a long way off.
Overall, the recovery in the graphic arts industry after the record decline in 2009
only progressed slowly. In the first quarter of 2010, value added in the graphic arts industry was still almost 3% below the already very low level of the previous year, while other sectors have already recorded very strong growth rates again.
In addition, a one-third increase in labor costs compared to neighboring countries and up to 15 percent higher paper prices in Switzerland reduced the competitiveness of the graphic arts industry. According to the "Viscom - BAK Index", the graphic arts industry is unlikely to see any significant recovery in the coming months in view of the once again gloomy economic outlook.
Positive impetus from the advertising industry
In the second and third quarters, there was clearly positive domestic economic momentum, particularly from the most important client, the advertising industry. However, demand in this sector slumped massively in 2009, as the report goes on to say. Despite the signs of recovery to date, the pre-crisis level is still a long way off.
Overall, the recovery in the graphic arts industry after the record decline in 2009
only progressed slowly. In the first quarter of 2010, value added in the graphic arts industry was still almost 3% below the already very low level of the previous year, while other sectors have already recorded very strong growth rates again.
