Investing.com – Manufacturing activity in Switzerland fell more-than-expected in November, contracting for the third consecutive month, industry data showed on Thursday.
In a report, the Swiss SVME purchasing managers' association and Credit Suisse said that its purchasing managers’ index declined by 2.1 points to a seasonally adjusted 44.8 in November from 46.9 in October.
Analysts had expected the index to ease down by 0.2 points to 46.7 in November.
On the index, a reading above 50.0 indicates expansion, below indicates contraction.
Following the release of the data, the Swiss franc was fractionally higher against the U.S. dollar, with USD/CHF easing down 0.07% to trade at 0.9125.
In a report, the Swiss SVME purchasing managers' association and Credit Suisse said that its purchasing managers’ index declined by 2.1 points to a seasonally adjusted 44.8 in November from 46.9 in October.
Analysts had expected the index to ease down by 0.2 points to 46.7 in November.
On the index, a reading above 50.0 indicates expansion, below indicates contraction.
Following the release of the data, the Swiss franc was fractionally higher against the U.S. dollar, with USD/CHF easing down 0.07% to trade at 0.9125.