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Financial News: Swiss Q3 Industrial Production Growth Improves

Swiss Q3 Industrial Production Growth Improves

11/18/2022 - 06:11:00 (RTTNews)

(RTTNews) - Switzerland's industrial production expanded at a slightly faster pace in the third quarter, while construction output decreased, the Federal Statistical Office reported on Friday.

Industrial production advanced 5.2 percent yearly in the September quarter, following a revised 5.0 percent rise in the June quarter.

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

Secondary sector production, which combines industry and construction, grew 3.4 percent annually in the third quarter versus a 4.0 percent increase in the previous three-month period.

Meanwhile, construction output declined 6.5 percent from last year, after a 1.2 percent drop in the June quarter.

Data also showed that industrial turnover advanced 4.8 percent in the third quarter, while construction turnover fell 0.2 percent.

In September, industrial production rose 11.4 percent year-on-year, well above the 5.2 percent gain in August.

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