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.