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.

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Switzerland Manufacturing PMI

Actual Previous Highest Lowest Dates Unit Frequency
50.20 48.80 66.90 32.80 1995 - 2019 points Monthly
SA

News Stream
2019-12-02
Swiss Manufacturing Contracts for 8th Month
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).

2019-11-01
Swiss Manufacturing Contraction Eases
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).

2019-10-01
Swiss Factory Activity Shrinks the Most in a Decade
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).

2019-09-02
Swiss Manufacturing Output Contracts for 5th Month
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).

2019-08-02
Swiss Manufacturing Falls the Most in 10 Years
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.

2019-07-01
Swiss PMI Falls Below Forecasts
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.


Switzerland Manufacturing PMI
In Switzerland, the procure.ch Manufacturing Purchasing Managers’ Index measures the performance of the manufacturing sector and is derived from a survey to executives on their procurement expectations for the following month. The Manufacturing Purchasing Managers Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the manufacturing sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change.

Switzerland Business Last Previous Highest Lowest Unit
Business Confidence 96.40 92.60 119.50 60.00 points [+]
Manufacturing PMI 50.20 48.80 66.90 32.80 points [+]
Industrial Production 8.00 4.40 12.30 -10.60 percent [+]
Manufacturing Production 7.20 5.20 12.80 -11.60 percent [+]
Capacity Utilization 80.42 79.89 90.00 75.04 percent [+]
Changes in Inventories -2036.40 -2877.60 4252.60 -4313.40 CHF Million [+]
Bankruptcies 13971.00 13257.00 13971.00 3040.00 Companies and Individuals [+]
Car Registrations 24.10 25.73 46.78 1.41 Thousand [+]
Internet Speed 21683.45 21238.67 21683.45 4380.25 KBps [+]
IP Addresses 3855605.00 3760263.00 3855605.00 1700696.00 IP [+]
Industrial Production Mom 0.80 1.10 5.40 -4.90 percent [+]
Mining Production -1.70 -3.20 19.40 -24.40 percent [+]
Services Pmi 50.60 51.70 68.40 48.20 points [+]
Zew Economic Sentiment Index 12.50 -3.90 65.00 -91.10 [+]
Competitiveness Index 82.33 82.59 82.59 5.54 Points [+]
Competitiveness Rank 5.00 4.00 5.00 1.00 [+]
Ease of Doing Business 36.00 38.00 38.00 19.00 [+]
Corruption Index 85.00 85.00 91.00 84.00 Points [+]
Corruption Rank 3.00 3.00 12.00 3.00 [+]