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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
SwitzerlandSwitzerland Industrial Production YoY fell to -7.1% in January 2026
FMPMonthlyReleased May 2026
Switzerland Industrial Production YoY fell to -7.1% in January 2026, released May 2026, down 6.7% from December's -0.4% reading. The reading missed the 0.5% consensus by 7.6%. Industrial Production YoY has now declined for 4 consecutive months. Industrial Production YoY is now the lowest in 66 months.
Latest Release
-7.1
Actual
0.5
Consensus
-0.4
Previous
Median Absolute Error
±2.5 percentage points
across last 11 releases
Last Call
May 2026
Predicted: 0.5
Actual: -7.1
Error: +7.6
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| USD/CHF | ▼ Inverse | −0.50 | FOREX | Bullish CHF | → View |
| EUR/CHF | ▼ Inverse | −0.45 | FOREX | Bearish EUR | → View |
| CHF/JPY | ▲ Direct | +0.40 | FOREX | Bullish CHF | → View |
| XAU/USD | ▲ Direct | +0.35 | COMMODITIES | Watch | → View |
| GBP/CHF | ▼ Inverse | −0.35 | FOREX | Bullish CHF | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Industrial Production YoY (Switzerland) was reported at -7.1% in May 2026. This missed the market consensus of 0.5% by 7.6%. The reading fell from the previous value of -0.4%. Trailing 12-month context per ETL data through May 2026. This is classified as a medium-impact indicator released on a monthly basis.
WHY IT MATTERS
The indicator has been trending downward over the last three releases. The trailing three releases averaged -1.97%, down from the prior three at 3.57%. In May readings over the past 3 years, Industrial Production YoY has averaged -0.57%.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with USD/CHF (Bullish CHF). A secondary relationship exists with EUR/CHF, negatively correlated (Bearish EUR). Over the last 11 releases, the Sigmacast model's median absolute error is 2.5%.
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Balance of Trade (Jun 18) and SNB Interest Rate Decision (Jun 18).
Auto-generated from current model state · Refreshes on each release · Last update May 2026.
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Industrial Production YoY - CH
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About Industrial Production YoY — Switzerland
DEFINITION
Industrial Production YoY (Year-over-Year) is a key economic indicator that measures the change in the total output of the manufacturing, mining, and utilities sectors over a 12-month period. It provides valuable insights into the health and growth of a country's industrial sector, which is a crucial component of its overall economic performance. This indicator is closely monitored by investors, policymakers, and analysts as it can signal potential shifts in the economy and help inform business and investment decisions. A positive YoY growth in industrial production indicates a strong and expanding industrial sector, while a negative growth may suggest a slowdown or contraction.
WHY THIS INDICATOR MATTERS
Manufacturing and factory-order series capture cyclical inflection earlier than aggregate output, and have outsized influence on industrial-sector equities. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Jan 2026): actual -7.1 %, consensus 0.5 %. Prior reading (Oct 2025): -0.7 %. Before that (Jul 2025): 1.9 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially lower reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with USD/CHF (Bullish CHF, r=-0.50) — a useful reference for forex-focused traders.