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Financial News: Swiss Industrial Production Falls In Q2

Swiss Industrial Production Falls In Q2

08/20/2020 - 10:31:00 (RTTNews)

(RTTNews) - Switzerland's industrial production decreased in the second quarter and total secondary sector turnover fell at the fastest pace since the global financial crisis of 2009, figures from the Federal Statistical Office showed on Thursday.

Industrial production decreased 8.6 percent year-on-year in the second quarter. Output fell 6 percent in April, 11.3 percent in May and 8.1 percent in June.

The construction output decreased 3.0 percent annually with a 1.8 percent fall in building activity and a 7.7 percent slump in civil engineering. Specialized construction works declined 3.0 percent.

Overall secondary sector production fell 7.7 percent year-on-year in the second quarter.

Turnover in the industrial sector decreased 12.1 percent annually in the second quarter with double-digit declines in all the three months of the quarter.

Construction turnover fell 2.7 percent year-on-year with 1.1 percent fall in building, 7.2 percent decline in civil engineering and a 3.2 percent fall in specialized construction works.

Overall secondary sector turnover decreased 10.2 percent, which was the biggest fall since the second quarter of 2009. Production and turnover declined in all sectors except the pharmaceutical industry, the statistical office said.

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