Source: iStock.com/Tony Tremblay

© iStock.com/Tony Tremblay

According to the Federal Statistical Office,[1] output in the goods-producing sector rose by 1.6% in September compared with the preceding month.[2] The industrial and construction sectors registered expansions of 2.0% and 1.5% respectively. The main cause of the rise in industrial production was a recovery in the automotive manufacturing sector (+10.0%). Furthermore, the Federal Statistical Office revised the results of the preceding month upwards, by around one percentage point.

In the third quarter, output in the goods-producing sector increased by 10.7%. Industry saw a rise by 14.6%, while output in the construction sector declined (-2.2%). Output in the automotive sector grew by 69.6%.

The goods-producing sector is gradually recovering. Most recent figures show industrial output at close to 93% of the pre-crisis level of the fourth quarter of 2019. New orders and the business climate are indicative of a continuation of the recovery process, albeit this path will become even more difficult in view of the current levels of infection.

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[1] Press release by the Federal Statistical Office of 6 November 2020.
[2] All figures are based on provisional data and have been adjusted for price, calendar day and seasonal factors (X13 JDemetra+ procedure).