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Switzerland PMI February 2023

Switzerland: Manufacturing and services PMIs ease in February

The Credit Suisse/ Manufacturing Purchasing Managers’ Index (PMI) came in at 48.9 in February, down from January’s 49.3. February’s result marked the weakest reading since June 2020. As a result, the index fell further below the 50.0 no-change threshold, signaling a sharper deterioration in manufacturing sector operating conditions compared to the previous month. The downtick was driven by worse readings regarding purchasing activity and employment, which more than offset improved readings for output and order backlogs.

Meanwhile, the Services PMI came in at 55.3 in February, down from January’s 56.7, on slower business activity and new orders growth.

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