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Switzerland's industrial production fell 6.7% in the third quarter from the prior year, a report released by the Federal Statistical Office showed Tuesday. However, the annual decline was smaller than the revised 14.3% decrease recorded in the second quarter and the expected fall of 9.6%. New orders and sales were down 9% and 8.4%, respectively in the third quarter.
Quarter-on-quarter, production rose 3.4% in the third quarter, while economists were looking for a 0.1% fall. The sequential growth rate for the second quarter was revised to 3.4% from 2.7%.
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