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 was weaker.
According to a statement from the Federal Statistical Office ( FSO ), production in the secondary sector in Switzerland fell by 4.4 percent year-on-year in the third quarter of 2020. At the same time, sales by Swiss companies in industry and construction fell by 6.3 percent. The coronavirus pandemic is thus "continuing to leave its mark in the secondary sector," write the FSO analysts. Compared to the previous quarter, however, the declines were "only about half as large".
In the industrial sector, production fell 5.1 percent year-on-year in the quarter under review. A weakening of the decline was observed over the three months. It was the strongest in July at 6.7 percent. In August production was 5.6 percent below the previous year's figure, in September the minus weakened to 3.8 percent.
In the construction industry, production decreased by 0.4 percent in the third quarter of 2020 compared to the third quarter of 2019. A decline of 7.2 percent was recorded in building construction. In contrast, production in civil engineering and other construction trades increased by 4.6 and 2.9 percent at the same time.
Sales in industry were 7.9 percent lower in the reporting quarter than in the same quarter of the previous year. Gradually weaker declines between 9.7 percent in July and 5.6 percent in September were observed in the individual three months.
Sales in the construction industry fell 0.6 percent below the previous year's figure in the third quarter of 2020. Here the range ranged from a minus of 6.9 percent in building construction to a plus of 5.1 percent in civil engineering.