Welder symbolizes the development of production in the manufacturing sector; Source: iStock.com/Tony Tremblay

© iStock.com/Tony Tremblay

According to the Federal Statistical Office, [1] output in the goods-producing sector rose by 3.4% in November compared with the preceding month. [2] Industrial production grew by 4.3%, and construction output by 1.5%. Within industry, the production of capital goods recorded a particularly sharp rise (+5.7%). Output of consumer goods and intermediate goods increased by 3.6% and 3.0% respectively.

The two-month comparison of October/November against August/September shows a drop of 0.2% in the goods-producing industries in spite of the rise in November. Industrial production fell by 0.3%. Construction output dropped slightly by 0.1%.

After two months of decline, output in the goods-producing sector has been picking up speed again as was generally expected in view of this year's public holidays and 'bridging days' in October. The positive development of new orders and the optimistic business expectations suggest that the industrial sector will grow dynamically in the coming months. In contrast, the construction industry seems to be increasingly operating at near-maximum capacity.

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[1] Press release by the Federal Statistical Office of 9 January 2018.
[2] All figures are based on provisional data and have been adjusted for price, calendar day and seasonal factors (Census X-12-ARIMA).