Investing.com - Manufacturing activity in Switzerland grew at a slower rate than expected in September, industry data showed on Tuesday.
In a report, the Swiss SVME purchasing managers' association and Credit Suisse said that its purchasing managers’ index inched up to a seasonally adjusted 55.3 in September from a reading of 54.6 in August.
Analysts had expected the index to increase to 55.4 last month.
On the index, a reading above 50.0 indicates expansion, below indicates contraction.
Following the release of the data, the Swiss franc remained higher against the U.S. dollar, with USD/CHF shedding 0.51% to trade at 0.9010.
In a report, the Swiss SVME purchasing managers' association and Credit Suisse said that its purchasing managers’ index inched up to a seasonally adjusted 55.3 in September from a reading of 54.6 in August.
Analysts had expected the index to increase to 55.4 last month.
On the index, a reading above 50.0 indicates expansion, below indicates contraction.
Following the release of the data, the Swiss franc remained higher against the U.S. dollar, with USD/CHF shedding 0.51% to trade at 0.9010.