The procure.ch Manufacturing PMI in Switzerland increased to 50.2 in December 2019 from 48.8 in the previous month and above market expectations of 49.1. The latest reading pointed to the first expansion in factory activity since March 2019, mainly due to rises in production (+1.9 points to 51.4) and new orders (+5.7 points to 52.7). Meantime, purchasing volumes (-0.5 points to 44.4) was little changed while both employment (-3.6 points to 48.6) and purchasing costs (-2.8 points to 47.5) declined. Manufacturing PMI in Switzerland averaged 53.88 points from 1995 until 2019, reaching an all time high of 66.90 points in December of 2006 and a record low of 32.80 points in March of 2009. source: procure.ch & Credit Suisse
Manufacturing PMI in Switzerland is expected to be 50.90 points 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 53.60 in 12 months time. In the long-term, the Switzerland Manufacturing PMI is projected to trend around 54.00 points in 2020, according to our econometric models.