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.