Financial News: Swiss Industrial Production Grows In Q3

Swiss Industrial Production Grows In Q3

11/18/2024 - 05:47:00 (RTTNews)

(RTTNews) - Switzerland's industrial production expanded further in the third quarter, provisional data from the Federal Statistical Office showed on Monday.

Industrial production climbed 3.5 percent year-over-year in the third quarter, though slower than the revised 7.0 percent strong recovery in the second quarter.

The output produced in the manufacturing sector was 2.0 percent higher compared to last year versus a 6.5 percent rise in the previous quarter.

The electricity supply segment showed a sharp growth of 20.2 percent. Meanwhile, mining and quarrying production contracted 4.1 percent.

Secondary sector production, which combines industry and construction, also grew at a slower pace of 3.3 percent annually in the September quarter, following a 6.0 percent surge in the prior quarter.

Data showed construction output advanced 2.1 percent from last year after rebounding 0.1 percent in the second quarter.

During September, industrial production declined 0.9 percent annually versus a 3.0 percent fall in August.

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