The Swiss PMI fell to 48.5 in April 2019 from 50.3 in the previous month and well below market expectations of 50.5. The reading pointed to the first month of contraction in factory activity since the beginning of 2015, amid falls in production (-1 point to 48.1), new orders (-6 points to 45), purchasing prices (-3 points to 48.5), purchasing volume (at 46.6) and delivery times (at 48.7). Meanwhile, increases were recorded for stocks purchased (+1.5 points to 51.1), sales stocks (+2.8 points to 51.7) and employment (+0.4 points to 52.9). Manufacturing PMI in Switzerland averaged 54.05 from 1995 until 2019, reaching an all time high of 66.90 in December of 2006 and a record low of 32.80 in March of 2009.
Manufacturing PMI in Switzerland is expected to be 52.50 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing PMI in Switzerland to stand at 53.00 in 12 months time. In the long-term, the Switzerland Manufacturing PMI is projected to trend around 54.00 in 2020, according to our econometric models.