Switzerland: Manufacturing and services PMIs see divergent trends in December
Latest reading: The UBS/procure.ch Manufacturing Purchasing Managers’ Index (PMI) declined to 45.8 in December, down from 49.7 in November. The index remained well below the 50.0 no-change threshold, pointing to a renewed and more pronounced deterioration in manufacturing sector operating conditions at year-end. Readings for output, employment, purchasing activity, and order volumes all weakened further in December, underscoring the persistent strain facing manufacturers. More positively, firms’ concerns over protectionism continued to ease.
In contrast, the Services PMI rose sharply to 52.1 in December from 45.3 in November, moving back above the 50.0 threshold and signaling a return to expansion. The rebound reflected a marked improvement in new orders and order backlogs, alongside stronger business activity, suggesting that services momentum improved materially toward the end of the year after several weak months.