Investing.com - Manufacturing activity in Switzerland expanded at a faster rate than expected in May, industry data showed on Monday.
In a report, the Swiss SVME purchasing managers' association and Credit Suisse said that its purchasing managers’ index rose to a seasonally adjusted 52.2 in May from a reading of 50.2 in April.
Analysts had expected the index to improve to 50.9 in May.
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 dipping 0.04% to trade at 0.9555.
In a report, the Swiss SVME purchasing managers' association and Credit Suisse said that its purchasing managers’ index rose to a seasonally adjusted 52.2 in May from a reading of 50.2 in April.
Analysts had expected the index to improve to 50.9 in May.
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 dipping 0.04% to trade at 0.9555.