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Swiss industry shrank in the fourth quarter. After an increase in the third quarter, production has now fallen again. However, sales increased. In the secondary sector of the economy, namely industry and construction, total production fell by 0.6 percent in the October-December 2023 period compared to the same period last year, the Federal Statistical Office (BFS) announced on Friday. However, sales increased by 2.7 percent.
Industrial production decreased by 0.4 percent in the fourth quarter compared to the previous year. It increased by 0.8 in October, but fell in November (-1.2%) and December (-0.3%). Meanwhile, sales rose 3.4 percent for the full quarter; The increase was highest in December (+4.2%).
Sharp decline in construction
Overall, industry performed slightly better than construction. Because production in the construction industry fell by 1.8 percent. Both civil engineering and civil engineering were responsible for this, with a decrease of 9.5 percent and 6.8 percent respectively. The other construction sector increased production by 2.5 percent.
Overall sales in the construction industry fell by 0.5 percent. The decline was particularly strong in building construction (-9.5%), but civil engineering also saw a decline in sales (-4.6%). The other construction sector increased its sales by 4.7 percent. (SDA/month)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
