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 fell by 1.6% in February compared with the preceding month. [2] Industrial production and construction output declined by 2.0%, and 2.2% respectively. In contrast to this, energy generation saw a marked increase. At 3.1%, manufacturers of capital goods registered the biggest decrease in output across the industrial sector. Production of consumer and intermediate goods dropped by 1.5% and 0.7% respectively.

In the two-month comparison of January/February against November/December, output in the goods-producing sector fell by 0.9%. Industrial production dropped by 1.3%. Whilst the production of capital and intermediate goods decreased by 2.2% and 1.3% respectively, consumer goods output rose by 0.9%. The construction industry posted positive growth, with output up by 1.1%.

Industrial output has clearly lost some momentum. However, the ongoing positive situation on the order books and the positive mood amongst businesses indicate that industrial output will continue to point upwards. This said, growth should be slower compared with the previous year. The slight upward trend in the construction sector registered in the previous half year continued.

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[1] Press release by the Federal Statistical Office of 6 April 2018.
[2] All figures are based on provisional data and have been adjusted for price, calendar day and seasonal factors (Census X-12-ARIMA)..