Source: iStock.com/Tony Tremblay

© iStock.com/Tony Tremblay

According to the Federal Statistical Office, [1] output in the goods-producing sector fell by 1.7% in October compared with the preceding month.[2] While industrial output and construction output declined by 1.7% and 2.8% respectively, output in the energy sector rose by 2.3%. Within the industrial sector, manufacturers of intermediate and consumer goods recorded increases of 1.0% and 0.3% respectively. In contrast, manufacturers of capital goods saw a decline of 4.4%.

The two-month comparison of September/October versus July/August shows a drop of 1.1% in the goods-producing industries. There were rises of 0.7% and 1.2% respectively in the construction and energy sectors. In contrast, industrial output declined by 1.7%, especially due to a fall in output in the automotive industry and in mechanical engineering (-2.9% and -2.2% respectively).

Economic activity in the industrial sector continues to be weak. Current trends regarding new orders and business expectations, however, indicate that the coming months might see a stabilising tendency. Construction activity continues to flourish, with orders fluctuating from month to month.

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[1] Press release by the Federal Statistical Office of 6 December 2019.
[2] All figures are based on provisional data and have been adjusted for price, calendar day and seasonal factors ( X13 JDemetra+ procedure).