The effects of the pandemic on industry and construction are weakening
Production and sales by companies in industry and construction remained below the previous year's figures in the third quarter of 2020 as well. Compared to the previous quarter, however, the decline is weaker.
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According to a report from the Federal Statistical Office ( FSO ), production in the Swiss secondary sector fell by 4.4% in the third quarter of 2020 compared to the previous year. At the same time, the turnover of Swiss companies in industry and construction fell by 6.3 percent. The coronavirus pandemic is thus continuing to "leave its mark on the secondary sector," write analysts at the FSO. Compared to the previous quarter, however, the declines were "only about half".
In the industrial sector, production declined 5.1% year-on-year for the quarter. A weakening of the decline was observed over the three months. It was strongest in July with 6.7%. In August production was 5.6% below the previous year's figure, while it weakened to 3.8% in September.
In the construction sector, production decreased by 0.4% in the third quarter of 2020 compared to the third quarter of 2019. A decrease of 7.2% was recorded in building construction. In contrast, production in civil engineering and other construction rose by 4.6% and 2.9%, respectively.
Industry sales in the quarter under review were 7.9% lower than in the same quarter of the previous year. Gradually weaker declines were observed over the three months between 9.7% in July and 5.6% in September.
Sales in the construction sector decreased by 0.6% in the third quarter of 2020 compared to the previous year. Here the range ranged from a decrease of 6.9% in building construction to an increase of 5.1% in civil engineering.
