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Switzerland PMI June 2024

Switzerland: Manufacturing PMI eases in June; services PMI rises

The Manufacturing Purchasing Managers’ Index (PMI) fell to 43.9 in June from May’s 46.4. As such, the index remained entrenched below the 50.0 no-change threshold, signaling a sustained deterioration in manufacturing sector operating conditions from the previous month. Weaker readings were recorded across a host of manufacturing subsectors.

Meanwhile, the more domestically-oriented Services PMI came in at 52.0 in June, up from May’s 48.8, amid stronger business activity, order backlogs and employment.

On the reading, UBS analysts said:

“The [Manufacturing] PMI has now remained below the growth threshold of 50 points for 18 months, indicating a challenging situation for the Swiss manufacturing sector. A slow reduction in stocks of finished goods and weak industrial PMIs in the Eurozone suggest a quick recovery is unlikely.”

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