Financial News: Swiss Industrial Production Expands 6.1% In Q4

Swiss Industrial Production Expands 6.1% In Q4

02/17/2023 - 07:04:00 (RTTNews)

(RTTNews) - Switzerland's industrial production continued to expand strongly in the fourth quarter on the back of sharp growth in the manufacturing sector, while construction output contracted, the Federal Statistical Office reported on Friday.

Industrial production rose 6.1 percent year-over-year in the fourth quarter, slightly faster than the 6.0 percent rise in the third quarter.

Production in the manufacturing sector grew 7.9 percent, while the mining and quarrying segment logged a negative growth of 3.0 percent. Electricity supply also slumped 10.3 percent.

Secondary sector production, which combines industry and construction, grew 4.1 percent annually in the December quarter, following a 3.7 percent gain in the September quarter.

Meanwhile, construction output declined 5.5 percent, slower than the 8.8 percent plunge in the preceding three-month period.

Industrial turnover advanced 8.7 percent in the fourth quarter and construction turnover rose 2.7 percent.

The growth in production and turnover has been uninterrupted since the first quarter 2021, the agency said.

In December, industrial production climbed 8.6 percent year-on-year, following a 1.0 percent growth in November.

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