Switzerland PMI February 2017

Switzerland

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.

FocusEconomics Consensus Forecast panelists expect industrial production to rise 1.7% in 2017, which is down 0.3 percentage points from last month’s forecast. The panel sees industrial production growth of 1.8% in 2018.


Author: Marlène Rump, Senior Data Analyst

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Switzerland PMI February 2017 0

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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