Swiss housing on the lake with mountains in switzerland

Switzerland PMI April 2019

Switzerland: Manufacturing PMI plunges into contractionary territory in April; services PMI rebounds to a nearly one-year high

The manufacturing Purchasing Managers’ Index (PMI) produced by Credit Suisse and tumbled to a nearly four-year low of 48.5 points in April from 50.3 points in March. Consequently, the index now lies below the 50-point threshold that separates expansion from contraction in the manufacturing sector for the first time since 2015 as weakening European demand continues to weigh on the Swiss manufacturing sector.

April’s decline was primarily due to a sharp fall in new worker orders and a drop in production, both of which lie in contractionary territory. Meanwhile, employment slowed notably in April, although it continued to grow. Stocks of raw materials and inventories of finished goods both ticked up in the month, while manufacturers’ purchasing activity was stable in the month.

Turning to the services sector, the PMI rebounded to a nearly one-year high in April after falling to an over two-year low in March. The surge came on the back of a sharp rise in order books and robust commercial activity. Moreover, new business inflows increased in the month, while job creation grew at a quicker clip.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest