Investing.com - Manufacturing activity in Switzerland grew at a faster than expected rate in July, industry data showed on Monday.
In a report, the Swiss SVME purchasing managers' association and Credit Suisse said that its purchasing managers’ index improved to a seasonally adjusted 54.3 last month from a reading of 54.0 in June.
Analysts had expected the index to decline to 52.8 in July.
On the index, a reading above 50.0 indicates expansion, below indicates contraction.
Following the release of the data, the Swiss franc was lower against the U.S. dollar, with USD/CHF easing up 0.03% to trade at 0.9065.