Switzerland’s industrial production declined for the second straight time in the second quarter, the Swiss Federal Statistical Office showed Thursday.
Industrial production fell 2.5 percent from last year following a 0.5 percent decline in the prior quarter. In the fourth quarter, output had risen 2.1 percent.
Likewise, production in the secondary sector consisting of industry and construction dropped 2.5 percent year-on-year, following a 0.9 percent decline in the prior quarter.
Output in manufacturing sector declined by 3.0 percent in the second quarter, that in mining and quarrying fell by 5.5 percent and construction output decreased by 2.5 percent, while output of electricity supply rose by 1.5 percent.
At the same time, turnover in the secondary sector dropped 5.0 percent annually after falling 1.9 percent a quarter ago. Industrial turnover fell 5.3 percent.
A fall in industrial orders received steepened to 6.8 percent annually in the second quarter from 4.8 percent in the first quarter, while that in the industrial orders on hand eased to 1.7 percent from 2.4 percent.
In June, industrial production recorded an annual drop of 11.0 percent, reversing the 6.6 percent growth in the previous month. Industrial turnover plunged 13.9 percent annually in June, reversing the 3.6 percent rise in May.
The material has been provided by InstaForex Company – www.instaforex.com