Switzerland: Manufacturing PMI rises in June; services PMI slumps
Latest reading: The UBS/procure.ch Manufacturing Purchasing Managers’ Index (PMI) came in at 49.6 in June, up notably from May’s 42.1. However, the index remained below the 50.0 no-change threshold, signaling a continued deterioration in manufacturing sector operating conditions from the previous month. The uptick was driven by improved readings for employment and output.
Meanwhile, the Services PMI dropped to 48.5 in June from May’s 56.3. That said, it’s important not to read too much into the slump given the volatile nature of the index.