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Financial News: Swiss Factory PMI At 8-Month Low

Swiss Factory PMI At 8-Month Low

04/03/2018 - 08:18:00 (RTTNews)

(RTTNews) - Switzerland's factory activity grew at the slowest pace in eight months in March, survey data from Credit Suisse and the logistics association procure.ch showed Tuesday.

The seasonally adjusted Purchasing Managers' Index, or PMI, fell sharply to 60.3 in March from 65.5 in February. This was the lowest score since last July.

Despite weakness, all sub-indices remained above the expansion threshold.

The "output" and "backlog of orders" sub-indices contracted by 8 and 8.3 points. On the other hand, the "employment" sub-index reached its highest level since February 2011.

At the same time, the services PMI declined to 56.8 in March from 62.9 in February.

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