Switzerland PMI April 2022


Switzerland: Manufacturing and Services PMIs ease in April

May 2, 2022

The Credit Suisse/procure.ch Manufacturing Purchasing Managers' Index (PMI) came in at 62.5 in April, down from March's 64.0. April's result marked the worst reading since February 2021. Consequently, the index moved closer to the 50.0 no-change threshold, signaling a slower improvement in business conditions compared to the previous month. The reading came on slower growth in output, employment and purchasing activity. Meanwhile, input prices rose at a historically high rate.

The Services PMI clocked in at 56.2 in April, down from March’s 61.1, on slower growth in business activity, new orders and employment. Taken together, the PMI readings suggest a strong start to Q2, notwithstanding price pressures and an uncertain external environment.

FocusEconomics Consensus Forecast panelists project the economy to expand 2.6% in 2022, which is down 0.1 percentage points from the previous month’s forecast, and 1.8% in 2023.

Author:, Economist

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Switzerland PMI Chart

Switzerland PMI April 2022

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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