Switzerland’s industrial sector experienced a surprising surge in the second quarter of the year, according to provisional data released by the Federal Statistical Office on Friday. Industrial production climbed a robust 7.3 percent year-on-year, marking a significant rebound from the 2.0 percent decline observed in the first quarter. This growth rate represents the largest increase since the first quarter of 2021, when production also rose by 7.3 percent.
The manufacturing sector was a key driver of this growth, with output increasing by 6.8 percent compared to the previous year, a stark contrast to the 3.2 percent drop in the first quarter. Mining production also showed positive signs, rising by 1.2 percent after a 1.0 percent decrease in the preceding three-month period. The electricity supply sector further contributed to the positive trend, recording a notable 12.5 percent growth.
The overall secondary sector, encompassing both industry and construction, experienced a recovery in the June quarter, with production rising 6.4 percent annually after a 2.4 percent decline in the first quarter. Â
Construction output, which had been on a downward trajectory, reversed course in the second quarter, expanding by 0.8 percent year-on-year following a 2.9 percent decline in the previous quarter.Â
On a monthly basis, industrial production expanded by 5.6 percent in June, a slight moderation from the 8.6 percent growth recorded in May.
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