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.
Author: Oliver Reynolds, Economist