Switzerland PMI April 2017

Switzerland

Switzerland: PMI inches down in April

May 2, 2017

In April, the manufacturing Purchasing Managers’ Index (PMI) produced by Credit Suisse and procure.ch came in at 57.4 points, which was below March’s 58.6 points. The index is still well above the 50-threshold that indicates an expansion in business activity in the manufacturing sector.

The Swiss industrial sector recorded another month of solid growth in April, though with a slightly slower pace than in March. Order books continue to be well filled and inventories and stocks of finished goods decreased despite higher purchasing and production activity. Delivery times increased, indicating that manufacturers are running closer to full capacity. Finally, the sub-component for employment climbed further up, which bodes well for private consumption. Against this backdrop, economists from Credit Suisse see growth accelerating this year.

FocusEconomics Consensus Forecast panelists expect industrial production to rise 1.4% in 2017, which is down 0.3 percentage points from last month’s forecast. The panel sees industrial production growth of 1.7% in 2018.


Author: Marlène Rump, Senior Data Analyst

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Switzerland PMI April 2017

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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