Switzerland: Manufacturing and services PMIs rise in January
Latest reading: The UBS/procure.ch Manufacturing Purchasing Managers’ Index (PMI) for Switzerland rose to 48.8 in January from a revised 46.4 in December, although it remained below the 50-point no-change threshold and continued to signal contraction in the manufacturing sector. At the start of the year, the improvement reflected a stabilization in production, with the output component climbing to 50.8—its first expansion since August—and order backlogs improving. Nevertheless, other components such as employment and purchasing volumes continued in contraction territory, underscoring persistent pressure on manufacturers.
In contrast, the Services PMI showed strength. In January, the services PMI stood at 53.8, up from 51.4 in December, indicating continued expansion in the services sector. This improvement reflected stronger business activity, new orders, and order backlogs, although employment in services remained under some strain.