Investing.com – Industrial production in Switzerland rose significantly more-than-expected in the final three months of 2011, official data showed on Tuesday.
In a report, Switzerland’s Federal Statistics Office said industrial production jumped by a seasonally adjusted 7.9% in the fourth quarter, blowing past expectations for a modest gain of 0.4%.
Industrial production for the third quarter was revised down to a 2.0% drop from a previously reported decline of 1.4%.
Year-on-Year, Swiss industrial production fell at an annualized rate of 1.4% in the fourth quarter, compared to expectations for a 2.0% drop, after declining at a rate of 1.9% in the preceding quarter.
Following the release of the data, the Swiss franc held on to losses against the U.S. dollar, with USD/CHF gaining 0.23% to trade at 0.9133.
In a report, Switzerland’s Federal Statistics Office said industrial production jumped by a seasonally adjusted 7.9% in the fourth quarter, blowing past expectations for a modest gain of 0.4%.
Industrial production for the third quarter was revised down to a 2.0% drop from a previously reported decline of 1.4%.
Year-on-Year, Swiss industrial production fell at an annualized rate of 1.4% in the fourth quarter, compared to expectations for a 2.0% drop, after declining at a rate of 1.9% in the preceding quarter.
Following the release of the data, the Swiss franc held on to losses against the U.S. dollar, with USD/CHF gaining 0.23% to trade at 0.9133.