Investing.com – Manufacturing activity in Switzerland declined unexpectedly in December, industry data showed on Monday.
In a report, the Swiss SVME purchasing managers' association and Credit Suisse said that its purchasing managers’ index fell to a seasonally adjusted 59.6 in December, after rising to 61.8 in November.
Analysts had expected the index to rise to 62.1 in December.
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 gaining 0.31% to hit 0.9373.
In a report, the Swiss SVME purchasing managers' association and Credit Suisse said that its purchasing managers’ index fell to a seasonally adjusted 59.6 in December, after rising to 61.8 in November.
Analysts had expected the index to rise to 62.1 in December.
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 gaining 0.31% to hit 0.9373.