Financial News: Swiss Industrial Production Grows 7.3% In Q2

Swiss Industrial Production Grows 7.3% In Q2

08/16/2024 - 04:16:00 (RTTNews)

(RTTNews) - Switzerland's industrial production increased unexpectedly and sharply in the second quarter, provisional data from the Federal Statistical Office showed on Friday.

Industrial production surged 7.3 percent year-over-year in the second quarter, reversing a 2.0 percent fall in the first quarter.

Further, this was the biggest increase since the first quarter of 2021, when production had risen the same 7.3 percent.

The output produced in the manufacturing sector was 6.8 percent higher compared to last year versus a 3.2 percent decline in the previous quarter.

Mining production rose 1.2 percent, in contrast to the 1.0 percent decrease in the previous three-month period. Similarly, the electricity supply segment showed a positive growth of 12.5 percent.

Secondary sector production, which combines industry and construction, recovered 6.4 percent annually in the June quarter, following a 2.4 percent fall in the first quarter.

Data showed that the declining trend in construction output ended in the second quarter and advanced 0.8 percent compared to last year after a 2.9 percent decline in the second quarter.

During June, industrial production expanded 5.6 percent annually versus an 8.6 percent rise a month ago.

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