Source: iStock.com/Tony Tremblay

© iStock.com/Tony Tremblay

According to the Federal Statistical Office [1], output in the goods-producing sector fell by 17.9% in April compared with the preceding month. [2] Industrial output dropped by 22.1%, while construction output declined by 4.1%.

In the two-month comparison, output in the goods-producing industries fell by 17.0%. Industrial output saw a greater fall (-20.6%), while the decline in output in the automotive industry, which largely ceased production in April, was particularly strong (-57.5%). In contrast, construction output declined only slightly (-1.2%).

After the public infection protection measures to tackle the coronavirus pandemic had been launched in the second half of March, the restriction of social and economic activities fully impacted on output in April. Economic activity has bottomed out. The economy is now recovering as the protective measures have been successively relaxed and production in the automotive sector has been resumed.

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[1] Press release by the Federal Statistical Office of 8 June 2020.
[2] All figures are based on provisional data and have been adjusted for price, calendar, and seasonal factors (X13 JDemetra+ procedure).