Swiss industry with higher production in the third quarter
Published: Friday, Nov 17th 2023, 08:40
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Swiss industry returned to growth in the third quarter. After a setback in the second quarter of the year, production has now risen again. Turnover was also up on the previous year.
In the secondary sector of the economy, i.e. in industry and construction, total production rose by 1.6% year-on-year between July and September 2023, as reported by the Federal Statistical Office (FSO) on Friday. Turnover even grew by 4.0%.
Industrial production increased by 2.0% year-on-year in the third quarter, rising in July, August and September. Turnover also climbed by 4.5% over the quarter as a whole, with the strongest increase in August (+5.3%).
Construction industry in decline
Overall, industry performed significantly better than the construction sector. This is because production in the construction industry fell by 0.7%. Only building construction was responsible for this, with a decline of 8.6 percent.
Civil engineering (+1.8%) and other construction (+3.2%) grew. In terms of turnover, the construction industry as a whole grew by 1.6%. However, building construction also weakened here (-7.4%), while civil engineering (+4.2%) and other construction (+6.7%) increased turnover.
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