Source: iStock.com/Tony Tremblay

© iStock.com/Tony Tremblay

According to the Federal Statistical Office, [1] output in the goods-producing sector rose by 3.0% in January compared with the preceding month. [2] Industrial output increased by 2.9% and construction output by 4.7%. Within industry, manufacturers of intermediate goods and capital goods recorded a rise of 5.1% and 2.1% respectively, whilst the production of consumer goods remained unchanged. In addition, the results for December for both the construction sector and industry were revised considerably upwards.

In the two-month comparison of December/January against October/November, output in the goods-producing sector remained virtually unchanged (-0.1%). Industrial output fell to the same extent (-0.1%), whilst construction output grew by 0.7%. In the energy sector, however, output dropped (-1.7%).

Industrial output has stabilised in the last few months. Construction output continued to point sharply upwards. Account has been taken of the fact that output was slightly overstated in January due to the strong impact of days taken off to bridge the gap between public holidays and the weekend in the preceding month and that the mild winter has provided a further stimulus to construction output. In spite of the more favourable development of new orders and of the business climate recently, the outlook for the goods-producing sector continues to involve uncertainties in view of the new risks related to the spread of coronavirus.

-------------------------------------

[1] Press release by the Federal Statistical Office of 9 March 2020.
[2] All figures are based on provisional data and have been adjusted for price, calendar day and seasonal factors (X13 JDemetra+ procedure).