May 19, 2017 / 8:29 AM / in 8 months

Industry group Swissmem upbeat after Q1 orders, sales rise

ZURICH, May 19 (Reuters) - Swiss electrical and mechanical engineering industry group Swissmem expressed optimism on Friday about prospects for a longer-term recovery after orders and sales of member companies rose in the first quarter.

Swissmem, whose members include power grids maker ABB and pump maker Sulzer, said the sector’s new orders increased by 2.3 percent in the first three months of 2017, while sales rose 9.5 percent. Exports rose 3.9 percent from the year-ago period.

“Companies’ positive expectations, good economic forecasts in the key sales markets and the recent slight fall in the Swiss franc raise hopes of a longer-term recovery,” Swissmem said. (Reporting by John Miller; Editing by Michael Shields)

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