Swiss housing on the lake with mountains in switzerland

Switzerland PMI January 2020

Switzerland: Manufacturing sector weakens in January, but service sector surges

The manufacturing Purchasing Managers’ Index (PMI) produced by Credit Suisse and fell to 47.8 in January from a revised 48.8 in December (previously reported: 50.2), coming in below the 50-threshold that separates contraction from expansion in the manufacturing sector. January’s fall was driven by weaker order books and a sharper decline in output.

In contrast, the services PMI rose sharply from a revised 51.3 in December (previously reported: 50.6) to 57.3 in January, the highest reading since April 2019. January’s figure was underpinned by faster growth in business activity, new orders and employment. However, it should be noted that the services PMI index experiences high month-to-month volatility, so it is difficult to gauge the strength of the sector from a single month’s reading.

According to Claude Maurer, head of swiss macro analysis & strategy at Procure: “the growth trend in the service sector seems to be continuing, which confirms our view that despite the weakness in the manufacturing sector, the Swiss economy is set to continue growing in 2020 – albeit at a generally muted pace”.

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