Switzerland PMI November 2016

Switzerland

Switzerland: PMI increases further in November

December 2, 2016

In November, the manufacturing Purchasing Managers’ Index (PMI) produced by Credit Suisse and procure.ch came in at 56.6 points, which was a further improvement from October’s 54.7 points and the best result in 33 months. The index is well above the 50-threshold that indicates an expansion in business activity in the manufacturing sector.

November’s survey reflected that the strength of the Swiss industrial sector as overall output grew further. The backlog of orders also grew remarkably and the decrease in stocks of purchases, in spite of the higher quantity acquired, suggests that demand outstripped supply. Finally, the employment sub-index improved and is now clearly in expansionary territory.

October’s and November’s high PMI readings suggest an improvement of economic activity for Q4, after the economy stalled in Q3.

FocusEconomics Consensus Forecast panelists expect industrial production to rise 0.8% in 2016, which is unchanged from last month’s forecast. The panel sees industrial production growth of 1.6% in 2017, which is also unchanged from last month’s estimate.


Author: Marlène Rump, Economist

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Switzerland PMI November 2016 1

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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