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Financial News: Swiss Factory PMI Highest In Nearly 7 Years

Swiss Factory PMI Highest In Nearly 7 Years

11/01/2017 - 08:15:00 (RTTNews)

(RTTNews) - Swiss factory growth was the highest in almost seven years during October and defied economists' expectations for a mild slowdown, survey data from Credit Suisse and the logistics association procure.ch showed Wednesday.

The Purchasing Managers' Index rose to 62 from 61.7 in September, marking the highest figure since February 2011. The outcome was also in contrast to economists' prediction for a decline to 61.3.

A score above 50 suggests growth in the sector.

The Swiss PMI has been climbing for the past five months and exceeded the 60-point mark in June.

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