Switzerland: PMI inches down in December
January 3, 2017
In December, the manufacturing Purchasing Managers’ Index (PMI) produced by Credit Suisse and procure.ch came in at 56.0 points, which was below November’s multi-year high of 56.6 points. The index is still well above the 50-threshold that indicates an expansion in business activity in the manufacturing sector.
Output increased in December thanks to more demand, yet the expansion occurred at a slower pace than in November. The rise in backlog of orders was a particularly bright spot, which suggests the Swiss industry will grow robustly in early 2017. A moderate setback was the decline of the employment component into negative territory, but overall, 2016 ended on a bright note for the manufacturing sector.