21.11.201908:10:00UTC+00Swiss Q3 Industrial Output Growth Fastest In More Than A Year

Swiss industrial production logged its fastest growth in more than a year in the third quarter, the Federal Statistical Office reported Thursday.

Industrial production grew 8 percent year-on-year in the third quarter, faster than the 4.4 percent increase in the second quarter.

This was the fastest expansion since the second quarter of 2018, when output advanced 9.2 percent.

Meanwhile, construction output contracted 1.1 percent annually. The overall secondary sector production climbed 6.3 percent versus 3.3 percent growth registered in the second quarter.

Further, data showed that turnover on the secondary sector grew at a faster pace of 4.7 percent after rising 2 percent in the second quarter.

A report from the Swiss National Bank showed that the monetary aggregate M3 grew at a slower pace of 1.8 percent annually in October after climbing 2.7 percent in September. A similar slower growth was last seen in November 2016.