Switzerland PMI January 2017


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.

FocusEconomics Consensus Forecast panelists expect industrial production to rise 1.8% in 2017, which is unchanged from last month’s forecast. The panel sees industrial production growth of 2.0% in 2018.

Author: Marlène Rump, Senior Data Analyst

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Switzerland PMI Chart

Switzerland PMI January 2017 2

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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