Switzerland: Manufacturing and services PMIs decrease in July
The Credit Suisse/procure.ch Manufacturing Purchasing Managers’ Index (PMI) fell to 43.5 in July from June’s 43.9. Consequently, the index fell further below the 50.0 no-change threshold, signaling a sharper deterioration in manufacturing sector operating conditions compared to the previous month. The decline reflected worse readings for output, quantities of purchases and employment.
Meanwhile, the Services PMI clocked in at 44.7 in July, down from June’s 52.0, on worse readings for business activity, new orders and employment.