Investing.com - Manufacturing activity in Switzerland slowed more-than-expected in March, contracting for the first time in three months, industry data showed on Tuesday.
In a report, the Swiss SVME purchasing managers' association and Credit Suisse said that its purchasing managers’ index fell to a seasonally adjusted 48.3 in March from a reading of 50.8 in February.
Analysts had expected the index to decline to 50.2 in March.
On the index, a reading above 50.0 indicates expansion, below indicates contraction.
Following the release of the data, the Swiss franc was little changed against the U.S. dollar, with USD/CHF adding 0.03% to trade at 0.9467.
In a report, the Swiss SVME purchasing managers' association and Credit Suisse said that its purchasing managers’ index fell to a seasonally adjusted 48.3 in March from a reading of 50.8 in February.
Analysts had expected the index to decline to 50.2 in March.
On the index, a reading above 50.0 indicates expansion, below indicates contraction.
Following the release of the data, the Swiss franc was little changed against the U.S. dollar, with USD/CHF adding 0.03% to trade at 0.9467.