Switzerland: PMI declines in January
February 3, 2017
In January, the manufacturing Purchasing Managers’ Index (PMI) produced by Credit Suisse and procure.ch came in at 54.6 points, which was below December’s 56.2 points. The index is still well above the 50-threshold that indicates an expansion in business activity in the manufacturing sector.
Though output continued to expand in January, it did so at a slower pace than in December. The backlog of orders eased remarkably, suggesting that demand lost steam at the outset of the year. Purchase levels were stable in January and the employment index climbed timidly, suggesting that employment levels are gradually improving. Regarding prices, businesses reported upward pressure, supported by increasing costs for energy and inflation gradually picking up in the region.