Investing.com - Manufacturing activity in Switzerland grew at the fastest rate than expected in January, industry data showed on Monday.
In a report, the Swiss SVME purchasing managers' association and Credit Suisse said that its purchasing managers’ index inched up to a seasonally adjusted 56.1 last month from a reading of 55.0 in December. Analysts had expected the index to increase to 55.4 in January.
On the index, a reading above 50.0 indicates expansion, below indicates contraction.
Following the release of the data, the Swiss franc was little changed against the U.S. dollar, with USD/CHF dipping 0.03% to trade at 0.9061.