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Switzerland PMI January 2023

Switzerland: Manufacturing PMI falls in January; Services PMI rises

The Credit Suisse/ Manufacturing Purchasing Managers’ Index (PMI) decreased in January to 49.3 from December’s 54.5. As a result, the index moved below the 50.0 no-change threshold, signaling a deterioration in manufacturing sector operating conditions compared to the previous month.

January’s decrease was driven by declines in outputs and new orders. However, there were improvements in delivery times and purchases, while employment grew. Meanwhile, price pressures continued to intensify.

The Services PMI clocked in at 56.7 in January from December’s 49.5 as all the subindices strengthened and landed above the 50.0 threshold. The main driver behind the improvement was business activity, which marked the highest reading since spring 2022.

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