Investing.com – Industrial production in Switzerland rose more-than-expected in the second quarter of 2011, official data showed on Thursday.
In a report, Switzerland’s Federal Statistics Office said industrial production rose by a seasonally adjusted 3.6% in the second quarter, beating expectations for a 3.0% gain.
The previous quarter’s figure was revised down to a drop of 9.6% from 9.2%.
Year-on-Year, Swiss industrial production rose at an annualized rate of 2.3% in the second quarter after rising at a revised rate of 4.5% in the preceding quarter, disappointing expectations for a 2.7% increase.
Following the release of the data, the Swiss franc was down against the U.S. dollar, with USD/CHF gaining 0.23% to trade at 0.8780.
In a report, Switzerland’s Federal Statistics Office said industrial production rose by a seasonally adjusted 3.6% in the second quarter, beating expectations for a 3.0% gain.
The previous quarter’s figure was revised down to a drop of 9.6% from 9.2%.
Year-on-Year, Swiss industrial production rose at an annualized rate of 2.3% in the second quarter after rising at a revised rate of 4.5% in the preceding quarter, disappointing expectations for a 2.7% increase.
Following the release of the data, the Swiss franc was down against the U.S. dollar, with USD/CHF gaining 0.23% to trade at 0.8780.