Investing.com – Manufacturing activity in Switzerland unexpectedly deteriorated in January, contracting for the fourth consecutive month, industry data showed on Wednesday.
In a report, the Swiss SVME purchasing managers' association and Credit Suisse said that its purchasing managers’ index fell by 1.8 points to a seasonally adjusted 47.3 in January from a reading of 49.1 in December, whose figure was revised down from 50.7.
Analysts had expected the index to rise by 2.7 points to 51.8.
On the index, a reading above 50.0 indicates expansion, below indicates contraction.
Following the release of the data, the Swiss franc remained lower against the U.S. dollar, with USD/CHF rising 0.15% to trade at 0.9216.
In a report, the Swiss SVME purchasing managers' association and Credit Suisse said that its purchasing managers’ index fell by 1.8 points to a seasonally adjusted 47.3 in January from a reading of 49.1 in December, whose figure was revised down from 50.7.
Analysts had expected the index to rise by 2.7 points to 51.8.
On the index, a reading above 50.0 indicates expansion, below indicates contraction.
Following the release of the data, the Swiss franc remained lower against the U.S. dollar, with USD/CHF rising 0.15% to trade at 0.9216.