Swiss Secondary sector with higher production and turnover increases in 4th quarter 2021 and in 2021 as a whole

Secondary sector with higher production and turnover increases in 4th quarter 2021 and in 2021 as a whole Secondary sector production rose by 6.2 % in 4th quarter 2021 in comparison with the same quarter a year earlier. Turnover rose by 8.3 %. In 2021 as a whole, with +7.9 % (turnover +8.9 %), the secondary sector produced considerably more than in 2020, the first year of the pandemic, more than making up for the previous year’s losses (production –2.8 %; turnover –4.7 %). This is shown by provisional results from the Federal Statistical Office (FSO).

In comparison with the previous year industrial production grew in October by 4.3 %, in November by 9.3 %, and in December by 7.3 %. For the whole of 4th quarter 2021 production increased by 7.3 % in comparison with the same quarter a year earlier. Construction production increased by 0.2 % in 4th quarter 2021 in comparison with the same quarter a year earlier. Production declined by 3.5% in building, civil engineering also registered a decline  (–3.6%). Lastly, specialised construction activities registered an increase of 2.7 % in their production.

Turnover

Industrial turnover in October rose by 7.2 % in comparison with the previous year, and in November (+11.0 %) and in December (+9.0 %). For the whole of 4th quarter 2021 in comparison with the same quarter a year earlier, turnover registered an increase of 9.3 %. Construction turnover rose by 4.6% in 4th quarter 2021 in comparison with the same quarter a year earlier. Turnover rose by 2.5 % in building, Civil engineering registered a decline of 1.1 %, specialised construction activities an increase of 6.4 %.

Provisional results for 2021 as a whole

For the whole of 2021, the second pandemic year, the secondary sector registered an increase in production of 7.9% (turnover +8.9 %) compared with the previous year, with industry growing by 9.2 % (turnover +10.1 %) and construction by 1.2 % (turnover +3.7 %). In the first pandemic year of 2020, the secondary sector bemoaned negative production figures of –2.8 % (turnover –4.7 %). This included production and turnover declines for industry (–3.3 %; –5.8 %) and construction (–0.2 %; –0.3 %).

With the exception of the energy supply and civil engineering sectors, all sectors showed positive results in 2021. Only in the textiles and clothing, manufacture of transport equipment and mechanical engineering sectors was the increase in 2021 insufficient to make up for the previous year’s losses.

Methodological notice

The Industry Production, Orders and Turnover Statistics (INDPAU) is a quarterly survey. The random sample comprises some 4500 companies.

The Swiss Federal Office for Energy (SFOE), the Swiss organization responsible for the compulsory stockpiling of oil products (CARBURA) and the Swiss Association of Gas Industry (VSG) serve as secondary sources for the statistical survey. This collaboration avoids certain economic activities having to be surveyed twice.

Among the variables surveyed are the monthly turnover figures and the quarterly orders received and on hand. The three variables are broken down by economic activity. A distinction is made by provenance (domestic/foreign) for the turnover and orders received variables. The economic activities’ production is calculated by deflating turnover by production prices.

The Construction Production, Orders and Turnover Statistics (BAPAU) represent the economic development of the construction industry. The random sample is composed of roughly 3800 companies.

The Swiss Contractors’ Association (SBV) conducts its own statistical survey among its members (approximately 1800 enterprises), data from which is used by the Federal Statistical Office (FSO) for the Construction Industry Production, Orders and Turnover Statistics. This coordinated approach makes it possible to avoid double surveys and eases the burden on enterprises.

Among the variables surveyed are the quarterly turnover figures, orders received and on hand. The three variables are broken down by economic activity. The economic activities’ production is calculated by deflating turnover by production prices. Both statistics are based on the General Classification of Economic Activities (NOGA) from the year 2008, which meets international standards and classifies businesses into different economic activities based on their economic activities.

In order to exclude seasonal fluctuations from the time series, data is seasonally adjusted. This is done using the X-12-ARIMA method which recalculates the entire time series every quarter. All time series will be adjusted for the number of working days (not every quarter has the same number of working days).

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