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Growth in the eurozone remains below average, while the US economy is likely to lose momentum owing to an increasing slowdown in the labour market. No significant economic recovery is currently expected in China either.

The transfer of knowledge and technology between universities and the private sector in Switzerland works relatively well. This is one of the key findings of the knowledge and technology transfer monitoring report compiled by KOF in collaboration with ZEW in Mannheim on behalf of the State Secretariat for Education, Research and Innovation (SERI). However, there are also challenges and a need for action.

The KOF Business Situation Indicator fell back in September (see chart G 13). This meant that it could not quite maintain the higher levels it had attained during the summer months of July and August. However, firms’ expectations about developments over the next six months continue to improve. The Swiss economy is on a bumpy road to recovery.

Employment is continuing to grow, while unemployment is rising slightly. KOF expects that the phase of declining real wages will come to an end this year.

In this interview, KOF economists Heiner Mikosch and Maurizio Daniele analyse the economic policy differences between Kamala Harris and Donald Trump and provide an outlook for economic developments in the United States.

The KOF Business Situation brightened for the second time in a row in August (see chart G 2). The improvement is becoming more widespread this month. Firms are also more confident about future business activity than before. The Swiss economy staged a modest recovery in the summer.