UBS sees slight decline in Swiss industrial output after peak reached in Q3

UBS said its last quarterly survey showed that industrial activity in Switzerland peaked in the third quarter with companies expecting growth to slow slightly in the final three months. "Business activity strengthened again in the third quarter and reached a level last witnessed during the boom phase in 2000," UBS said adding that results clearly exceed expectations expressed last quarter. For the final quarter, companies surveyed expect only a slight dip, UBS said. The UBS Business Cycle Indicator, which is derived from the results of the quarterly survey, therefore shows continued strong growth in real GDP. "Although the indicator is set to gradually flatten, it will still reach approximately 3 pct in the current quarter as well," the group said.