Swiss Industrial Output Declines In Q2

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Tuesday, the Federal Statistical Office said Switzerland's industrial output plunged 14.9% in the second quarter from the same period of last year, larger than the 9.4% decrease in the first quarter. Economists were looking for an annual 11.1% decline. Meanwhile, production recorded a sequential growth of 2.7%, much slower than the consensus forecast of 7.3%.

Sales slipped 12.9% annually, while orders received during the second quarter were down 17.5%. Further, finished goods inventories shrank 4%.

Tuesday, the Federal Statistical Office said Switzerland's industrial output plunged 14.9% in the second quarter from the same period of last year, larger than the 9.4% decrease in the first quarter. (Market News Provided by RTTNews)