Switzerland: PMI paints a brighter picture in October
November 2, 2016
In October, the manufacturing Purchasing Managers’ Index (PMI) produced by Credit Suisse and procure.ch came in at 54.7 points, beating September’s 53.2 points. The index is well above the 50-threshold that indicates an expansion in business activity in the manufacturing sector.
October’s survey reflects a remarkable improvement across the sub-indices. Overall output grew strongly and the decreases in stocks of purchases and finished goods suggest that demand was robust, as had been anticipated in September’s survey. Another piece of good news was the improvement in the labor market, where employment levels held steady rather than decreasing for the first time since June.