Investing.com - Manufacturing activity in Switzerland declined at a slower rate than expected in June, 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 51.9 in June from a reading of 52.2 in May.
Analysts had expected the index to deteriorate to 51.8 last month.
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 0.02% to trade at 0.9450.
In a report, the Swiss SVME purchasing managers' association and Credit Suisse said that its purchasing managers’ index declined to a seasonally adjusted 51.9 in June from a reading of 52.2 in May.
Analysts had expected the index to deteriorate to 51.8 last month.
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 0.02% to trade at 0.9450.