Investing.com - Manufacturing activity in Switzerland expanded at a faster rate than expected in April, industry data showed on Thursday.
In a report, the Swiss SVME purchasing managers' association and Credit Suisse said that its purchasing managers’ index rose to a seasonally adjusted 50.2 in April from a reading of 48.3 in March.
Analysts had expected the index to improve to 49.0 in April.
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 adding 0.22% to trade at 0.9293.
In a report, the Swiss SVME purchasing managers' association and Credit Suisse said that its purchasing managers’ index rose to a seasonally adjusted 50.2 in April from a reading of 48.3 in March.
Analysts had expected the index to improve to 49.0 in April.
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 adding 0.22% to trade at 0.9293.