Investing.com – Manufacturing activity in Switzerland fell more-than-expected in September, dropping into contraction territory, industry data showed on Monday.
In a report, the Swiss SVME purchasing managers' association and Credit Suisse said that its purchasing managers’ index declined to a seasonally adjusted 48.2 in September from 51.7 in August.
Analysts had expected the index to decline to 50.5 in September.
On the index, a reading above 50.0 indicates expansion, below indicates contraction.
Following the release of the data, the Swiss franc was down against the U.S. dollar, with USD/CHF edging 0.36% higher to trade at 0.9111.
In a report, the Swiss SVME purchasing managers' association and Credit Suisse said that its purchasing managers’ index declined to a seasonally adjusted 48.2 in September from 51.7 in August.
Analysts had expected the index to decline to 50.5 in September.
On the index, a reading above 50.0 indicates expansion, below indicates contraction.
Following the release of the data, the Swiss franc was down against the U.S. dollar, with USD/CHF edging 0.36% higher to trade at 0.9111.