Source: iStock.com/Tony Tremblay

© iStock.com/Tony Tremblay

According to the Federal Statistical Office,[1] output in the goods-producing sector fell by 1.9% in April compared with the preceding month.[2] Industrial production fell by 2.5%. Construction output grew by 0.2%.

In the two-month comparison of March/April compared with January/February, output from the goods-producing sector fell by 0.3%. Here, construction recorded a strong expansion (+1.9%), whilst industry saw a decline (-0.6%). In the automotive sector, output fell by 1.9%.

New orders in the manufacturing sector have softened since the beginning of the year, and the business climate has continued to deteriorate. The more meaningful two-month comparison therefore suggests that the industrial sector will remain sluggish in the coming months. In contrast, the construction industry has been reporting sharp rises in output since the beginning of the year, and is continuing to boom.

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[1] Press release by the Federal Statistical Office of 7 June 2019.
[2] All figures are based on provisional data and have been adjusted for price, calendar day and seasonal factors (X13 JDemetra+ procedure).