Switzerland: Manufacturing PMI edges up in November
The manufacturing Purchasing Managers’ Index (PMI) produced by Credit Suisse and procure.ch inched up to 57.7 points in November from October’s over one-year low of 57.4 points. As a result, the indicator remains comfortably above the 50-point threshold that separates expansion from contraction in manufacturing output and also above the index’s long-term average of 55 points.
November’s slight turnaround was primarily driven by higher production in the month, and in turn stronger hiring activity. New order books also rose slightly in November. On the flipside, supplier delivery times lengthened, and inventories fell notably. Meanwhile, purchasing activity was relatively stable in the month.