Swiss - PMI Manufaktur

The SVME Manufacturing PMI in Switzerland dropped to 48.8 in November 2019 from 49.4 in the previous month and slightly above market expectations of 48.6. Declines were seen in production (-0.9 points to 49.5), new orders (-2.1 points to 47.1), purchasing volume (-1.5 points to 45.0) and delivery times (-0.1 points to 46.6). Meanwhile, employment growth was little changed (+0.1 points to 52.2). On the price front, purchasing costs rebounded (+1.0 point to 50.3).

The SVME Manufacturing PMI in Switzerland rose to 49.4 in October 2019 from 44.6 in the previous month and well above market expectations of 45. It was the highest level in seven months, still pointing to a small contraction in the sector. There was a rebound in both production (+5.5 points to 50.4) and employment (+2.5 points to 52.2), while a weaker pace of decline was recorded for new orders (+8.0 points to 49.2), purchasing volume (+8.8 points to 46.4), purchasing prices (+4.6 points to 49.3), delivery times (+2.1 points to 46.7), and stocks purchased (+2.7 points to 46.2).

The Swiss Manufacturing PMI fell to 44.6 in September 2019 from 47.2 in the previous month a below market expectations of 46.5. The latest reading pointed to the steepest month of contraction in the manufacturing sector since July 2009, with all sub-indexes remaining in contraction territory: production (-1.8 points to 44.9); new orders (-6.2 points to 41.2); purchasing volume (-2.9 points to 37.6); purchasing prices (-4.1 points to 44.7); delivery times (-1.6 points to 44.6); stocks purchased (-4.4 points to 43.5); sales stocks (-0.4 points to 47.2); and employment (+1.8 points to 49.6).

The Swiss Manufacturing PMI rose to 47.2 in August 2019 from 44.7 points in the previous month and above market expectations of 46.5. Still, the latest reading pointed to the fifth month of contraction in the manufacturing sector, amid the general backdrop of a strong CHF versus EUR, heightened uncertainty and weak growth in the countries that purchase Swiss manufacturing products. Five of the eight sub-indexes increased: production (2.8 points to 46.7); new orders (8.2 points to 47.4); purchasing volume (0.6 points to 40.5); purchasing prices (1.3 points to 48.8); and stocks purchased (4.0 points to 47.9). In contrast, declines were seen in delivery times (-0.7 points to 46.2), sales stocks (-7.4 points to 47.6), and employment (-4.9 points to 47.8).

The SVME Manufacturing PMI in Switzerland fell to 44.7 in July of 2019 from 47.7 in the previous month and below market expectations of 46.5. The latest reading signalled the steepest decline in the manufacturing sector since July of 2009. Declines were seen for production (down 4.2 points to 44); new orders (down 4.3 points to 39.2); purchasing volume (down 2.5 points to 39.9); delivery time (down 0.2 points to 46.9) and stocks purchased (down 8.6 points to 43.9). On the other hand, purchasing prices (up 1.9 points to 47.5); sales stocks (up 3.9 points to 55) and employment (up 1.4 points to 52.7) increased.

The SVME Manufacturing PMI in Switzerland fell to 47.7 in June 2019 from 48.6 in the previous month and below market expectations of 48.9, as six of the main sub-indexes declined: production (down 0.6 points to 48.2); new orders (down 3.1 points to 43.5); purchasing volume (down 6.3 points to 42.4); purchasing prices (down 3.3 points to 45.6); delivery times (down 1.4 points to 47.2); and stocks purchased (down 2.1 points to 52.5). By contrast, the gauge measuring employment rose 2.8 points to 51.4 and the sales stocks sub-index increased 0.5 points to 51.1.