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Switzerland PMI December 2023

Switzerland: Manufacturing and Services PMIs rise in December

The Credit Suisse/ Manufacturing Purchasing Managers’ Index (PMI) came in at 43.0 in December, up from November’s 42.1. Despite the uptick, the index remained entrenched below the 50.0 no-change threshold, signaling a sustained—albeit softer—deterioration in manufacturing sector operating conditions from the previous month. The headline print chiefly reflected improved readings for order backlogs and employment. Meanwhile, delivery times were shortened once again, highlighting weak demand and the post-pandemic normalization of supply chains.

Meanwhile, the Services PMI stood at 56.9 in December, up from November’s 53.6. This increase was spearheaded by improved readings for new orders, backlogs of orders and employment.

December’s PMI readings once again stressed the contrast between the robust domestically-oriented services sector and the weak export-oriented manufacturing sector.

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