Switzerland: Manufacturing PMI drops and the service sector improves in September
Latest reading: The UBS/procure.ch Manufacturing Purchasing Managers’ Index (PMI) came in at 46.3 in September, down from 49.0 in August. As a result, the index remained below the 50.0 no-change threshold, signaling a continued deterioration in manufacturing sector operating conditions from the previous month. The dip was driven by weaker readings for new orders and output, as more industrial companies start to feel the weight of the additional 39% tariffs imposed by the U.S. on Swiss exports since early August.
The Services PMI came in at 51.3 in September, up from August’s 43.9 and crossing the 50.0 no change threshold for the first time since May, due to stronger readings in new orders and business activity.