Switzerland PMI September 2021

Switzerland

Switzerland: Manufacturing and services PMIs rise in September

October 1, 2021

The Credit Suisse/procure.ch Manufacturing Purchasing Managers' Index (PMI) came in at 68.1 in September, up from August's 67.7. Consequently, the index remained entrenched above the 50-threshold, signaling a faster improvement in business conditions from the previous month. The reading was driven by faster output growth and extremely strong growth in purchasing activity as firms aimed to ensure sufficient inputs in the face of exceptionally long lead times. In contrast, new orders growth eased slightly.

Meanwhile, the Services PMI ticked up from 61.3 to 62.1, aided by faster growth in new orders and employment, amid an under-control domestic Covid-19 situation. On the price front, input price inflation intensified in both the manufacturing and services sectors. Taken together, the PMI readings for Q3 suggest a solid GDP outturn in the quarter.

FocusEconomics Consensus Forecast panelists project the economy to expand 3.5% in 2021. In 2022, the panel expects GDP to grow 2.9%, which is unchanged from the previous month’s forecast.


Author:, Economist

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Switzerland PMI September 2021 0

Note: Credit Suisse and procure.ch Purchasing Managers’ Index (PMI). A reading above 50 indicates an expansion in business activity while a reading below 50 indicates a contraction.
Source: Credit Suisse and procure.ch.


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