Swiss industry with decline in production in the first quarter
Published: Friday, May 17th 2024, 08:40
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Swiss industry looks back on a difficult first quarter of 2024. Production fell significantly in the first three months, and sales were also down.
In the secondary sector of the economy, i.e. in industry and construction, total production fell by 3.3% between January and March compared to the same period last year, as reported by the Federal Statistical Office (FSO) on Friday. This was the sharpest decline since the third quarter of 2020 and sales fell by 0.8%.
Industrial production fell by 3.1% year-on-year in the first quarter. It fell most significantly in March with a drop of 3.8%. Meanwhile, turnover fell by 0.6% over the quarter as a whole, with the decline also being most pronounced in March (-2.7%). In January, sales had still risen by 1.5%.
Construction industry continues to weaken
The construction industry continued to weaken. Production here fell by 1.8%. Both building construction and civil engineering were responsible for this, with declines of 3.4% and 3.5% respectively. Production in other construction fell by 0.8 percent.
Turnover in the construction industry fell by 0.0% overall. The decline was particularly strong in building construction (-3.3%), but civil engineering (-2.2%) also saw a drop in turnover. Meanwhile, other construction increased turnover by 0.9%.
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