Forexpros – Industrial production in Switzerland declined more-than-expected in the third quarter, official data showed on Thursday.
In a report, Switzerland’s Federal Statistics Office said industrial production fell by a seasonally adjusted 1.4% in the third quarter, disappointing expectations for a decline of 0.9%.
Industrial production for the second quarter was revised down to a 2.9% increase from a previously reported gain of 3.6%.
Year-on-Year, Swiss industrial production fell at an annualized rate of 1.4% in the three months to September after rising at a rate of 1.6% in the preceding quarter.
Following the release of the data, the Swiss franc held on to gains against the U.S. dollar, with USD/CHF gaining 0.5% to trade at 0.9485.
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