Swiss industry sees no signs of recovery

Swiss industry sees no signs of recoveryGeneva  - Production in Switzerland's manufacturing sector shrank in the second quarter this year, the Federal Statistical Office said Tuesday.

Compared to the same period last year, production decreased by 14.9 per cent and sales fell 12.9 per cent.

Orders received and orders on hand dropped 17.5 per cent and 16.4 per cent respectively, year-on-year, while inventories of finished goods shrank by 4 per cent.

The textile, leather, machinery, plastic and rubber sectors were all being hit by the economic downturn. (dpa)

Check out More news from Telecom Sector :: Pharmaceutical Sector :: Auto Sector :: Infrastructure :: Real Estate