Switzerland PMI October 2016

Switzerland

Switzerland: PMI paints a brighter picture in October

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.

FocusEconomics Consensus Forecast panelists expect industrial production to rise 1.0% in 2016, which is down 0.1 percentage points from last month’s forecast. The panel sees industrial production growth of 2.2% in 2017, which is also down 0.1 percentage points from last month’s estimate.


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Switzerland PMI October 2016 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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