Switzerland PMI December 2019


Switzerland: Manufacturing sector perks up in December, but services sector loses steam

January 3, 2020

The manufacturing Purchasing Managers’ Index (PMI) produced by Credit Suisse and procure.ch rose to 50.2 in December from 48.8 in November, marking the highest reading since March and moving back above the 50-threshold that separates contraction from expansion in the manufacturing sector. December’s improvement was driven by a rebound in output and order books. Less positively however, employment contracted somewhat.

The services PMI fell from 51.7 in November to 50.6 in December on weaker growth in business activity and stagnating new orders, although employment picked up.

Looking at average readings for Q4 as a whole, the same picture emerged: the manufacturing sector performed better than in Q3, while momentum in the service sector ebbed. As a result, the economy likely registered only modest growth in the period.

FocusEconomics Consensus Forecast panelists expect fixed investment to increase 1.0% in 2020, which is unchanged from last month’s forecast, and 1.7% in 2021.

Author:, Economist

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Switzerland PMI Chart

Switzerland PMI December 2019

Note: Credit Suisse and procure.ch Purchasing Managers’ Index (PMI). A reading above 50 indicates an expansion in business activity while a reading below 50 indicates a contraction.
Source: Credit Suisse and procure.ch

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