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Switzerland Manufacturing PMI Contracts For Second Month, Fueling Growth Fears
Monday, 03 November 2008 07:40:10 GMT
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Swiss October manufacturing PMI slipped to 47.0 from 47.8, better than the Reuters median for 45.5 as well as our own above-median estimate for 46.5. A breakdown of the headline reading shows an improvement to the production sub-index, which is now at 49.0, versus 43.1 in September. The orders index fell, as did employment. Purchases prices came sharply, as could be expected given the fall in commodity prices. Overall, data highlights the continued deterioration of the Swiss manufacturing sector.
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