Switzerland factory activity drops less than expected
Switzerland’s procure.ch and Credit Suisse Manufacturing Purchasing Managers’ Index was reported at a reading of 48.4 in December, down from 48.5 in the preceding month.In comparison, a consensus of e
Switzerland’s procure.ch and Credit Suisse Manufacturing Purchasing Managers’ Index was reported at a reading of 48.4 in December, down from 48.5 in the preceding month.
In comparison, a consensus of estimates had pointed to a reading of 48.3.
December has been the 24th consecutive month of contraction in factory activity.
There have been declines in the sub-indexes of production (down 2.5 to 48.3), order book (down 0.4 to 49.7), sales stocks (down 1.3 to 46.5) and employment (down 0.8 to 44.7).
Conversely, the sub-indexes of purchasing volume (up 1 to 47.1), purchasing prices (up 3.6 to 51), delivery times (up 1.6 to 50.9) and stocks purchased (up 6.1 to 48.6) improved in December.
The EUR/CHF currency pair settled 0.03% lower at 0.9353 on Friday. For the week, the minor currency pair went down 0.42%, as it reversed a gain from the prior weekly period.
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