Switzerland’s factory activity shrinks less than expected

Switzerland’s procure.ch and Credit Suisse Manufacturing Purchasing Managers’ Index was reported at a reading of 45.2 in March, up from 44 in the preceding month.

In comparison, a consensus of estimates had pointed to a reading of 44.9.

March has been the 15th consecutive month of contraction, but the smallest since April 2023.

There have been improvements in the sub-indexes of production (up 2.2 to 47.1), order book (up 3.5 to 44.6), purchasing volume (up 0.2 to 4.7) and employment (up 2.7 to 48.5).

Conversely, the sub-indexes of purchasing prices (down 4.6 to 41.5), delivery times (down 2.5 to 42.5), stocks purchased (down 5.4 to 39.5) and sales stocks (down 6.5 to 44.8) deteriorated in March.

The Swiss Franc was 0.48% weaker on the day against the US Dollar, with the USD/CHF currency pair last trading at 0.9086.

The Swiss currency held in proximity to a fresh 5-month low of 0.9090, which it registered earlier during the European session.