2024 Economic Trends: Swiss Decline, UK Growth, China Expands:
Global markets are experiencing diverse economic developments that significantly influence investor sentiment and decision-making.
An unexpected decline in retail sales in Switzerland highlights local challenges impacting the Swiss franc.
Meanwhile, despite challenges, the UK has seen notable improvement in new car registrations,
with an increasing market share for electric vehicles.
On the other hand, the Chinese economy continues to outperform,
showing significant growth in the electronic information and software sectors.

This report delves into the key figures and statistics that outline the global economic landscape and market trends.

Content

Swiss Retail Sales

UK New Car Registrations

China’s Electronic Information Industry

Swiss Retail Sales Decline in December Beyond Expectations

Data from the Swiss Federal Statistical Office released on Monday morning
showed that retail sales in Switzerland shrank by 0.8% year-on-year in December,
performing worse than the forecasted 1.3% growth.
The revised figures for November indicated a growth of 1.5%, up from the initial 1.4%.

A reading above expectations is typically positive for the Swiss franc, while underperformance pressures the currency.

UK New Car Registrations Rise Despite Challenges

In the UK, new car registrations rose by 2.6% year-on-year in 2024 to 1.95 million units,
according to data from the Society of Motor Manufacturers and Traders (SMMT).
Despite this annual improvement, December saw a slight decline of 0.2%, with 140,786 units registered.

Battery-electric vehicles accounted for 19.6% of all new registrations in 2024, marking progress in the electric transition.
However, this is below the government’s target of 22% for the year.
Future regulations aim to increase the market share of electric vehicles to 80% by 2030,
highlighting significant challenges for the sector to meet these ambitious goals.

Rapid Growth in China’s Electronic Information Industry in 2024

According to official data from the Ministry of Industry and Information Technology,
China’s electronic information industry reported remarkable growth in the first 11 months of 2024.
Mobile phone production Reached 1.504 billion units, up 8.9% year-on-year,
including 1.117 billion smartphones, a 9.3% increase.

Industrial added value: Grew by 12.2% year-on-year for major companies,
generating total profits of 565.3 billion yuan ($79.62 billion), a 2.9% rise.

Software and IT services sector: Achieved total profits of 1,482.2 billion yuan,
up 9.2% from the previous year.

These figures underscore the ongoing evolution of this vital sector within the Chinese economy.

2024 Economic Trends: Swiss Decline, UK Growth, China Expands

2024 Economic Trends: Swiss Decline, UK Growth, China Expands

Related Topics