(07.06.2023) The Swiss secondary sector has continued its progress since Q1 2021. According to the Federal Statistical Office (FSO), production increased by 2.9% in the first quarter on a year-on-year basis. Its overall turnover also increased by 6.1%.
The industry has shown particular resilience: production was up by 4% in January compared to the previous year, 0.7% in February, and even 5.2% in March, averaging 3.4% for the entire first quarter of 2023.
However, construction experienced a slight decline (-1.4%). The building sector saw a production drop of -6%, while civil engineering experienced a decrease of -6.4%. However, specialized construction works managed to fare better (+1.8%).
Industry turnover surged by 6.4% between the first quarter of 2022 and the same period one year later. The largest increase was recorded in March 2023 (+7.6%), although branch turnover also significantly increased in January (+6.3%) and February (+5.4%).
In the construction sector, overall turnover increased by 4.3% in the first quarter, driven by a strong performance of specialized construction works (+8.2%). Both building (-1.1%) and civil engineering (-1.5%) experienced a slight contraction in their revenues.
Every quarter, the FSO publishes statistics obtained from surveys on Industry Production, Orders and Turnover Statistics (INDPAU) and Construction Industry Production, Orders and Turnover Statistics (BAPAU), analyzing data collected from 8,300 establishments across Switzerland.
Last modification 07.06.2023