Thurgau's industrial sector is encountering significant obstacles, as indicated by the latest Thurgau Economic Barometer. The report, published by the canton of Thurgau in collaboration with the Thurgau Cantonal Bank, the Chamber of Industry and Commerce, and the Thurgau Trade Association, highlights a sluggish economic development characterized by weak demand, particularly from international markets.

Companies have reported a concerning decline in their order backlog since July, with the lack of foreign orders being particularly troubling and contributing to a drop in exports. Preliminary data shows that Thurgau's exports fell by almost 6% from January to September 2024 compared to the same period last year.

Looking ahead, industrial firms remain cautious, with most expecting the current business conditions to persist until at least spring 2025. This outlook emphasizes the ongoing challenges faced by the region's economy in the face of a difficult global demand landscape.