Source: iStock.com/Tony Tremblay

© iStock.com/Tony Tremblay

According to the Federal Statistical Office, [1] output in the goods-producing sector rose by 0.3% in May compared with the preceding month. [2] While industrial output expanded by 0.9%, construction output declined by 2.4%. At 2.0% and 2.7% respectively, capital and consumer goods registered the biggest increase in output across the industrial sector.

In the two-month comparison of April/May against February/March, output in the goods-producing sector fell by 1.6%. There was a considerable decline in output in both the construction sector (-3.0%) and industry (-1.2%). In the automotive sector, output fell by 2.9%.

Following a weak performance in April, output in the goods-producing industry stabilised in May at a low level. As a result, the marked decline in output in the construction industry was offset by moderate growth in industrial output. However, the more meaningful two-month comparison shows significantly subdued growth in industry, which is likely to continue in the coming months given the weak development of new manufacturing orders and the bleak business climate.

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[1] Press release by the Federal Statistical Office of 8 July 2019.
[2] All figures are based on provisional data and have been adjusted for price, calendar day and seasonal factors (X13 JDemetra+ procedure).