Switzerland: Manufacturing PMI picks up in August
Latest reading: The UBS/procure.ch Manufacturing Purchasing Managers’ Index (PMI) came in at 49.0 in August, up from July’s 48.8. 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 uptick was driven by improved readings for new orders and output, and came despite the introduction of high U.S. tariffs on Swiss imports in the month.
The Services PMI clocked in at 43.9 in August, up from July’s 41.8 but still a muted reading by historical standards due to soft employment and new orders.