Switzerland: PMI jumps to multi-year high in February
March 6, 2017
In February, the manufacturing Purchasing Managers’ Index (PMI) produced by Credit Suisse and procure.ch came in at 57.8 points, which was above January’s 54.6 reading and marked the highest figure in over five years. The index is now further above the 50-threshold that indicates an expansion in business activity in the manufacturing sector.
The improvement was visible across all sub-components in February. Output rose at a time of dwindling inventories and longer delivery periods, pointing to more-than-anticipated demand. Purchasing activity also increased, despite costs rising further. Moreover, the component tracking employment came in at a level comfortably within the expansionary territory for the first time in three years.