Investing.com – Manufacturing activity in Switzerland rose unexpectedly in May, industry data showed on Wednesday.
In a report, the Swiss SVME purchasing managers' association and Credit Suisse said that its purchasing managers’ index rose to a seasonally adjusted 59.2 in May, up from 58.4 in April.
Analysts had expected the index to decline to 57.6 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 up against the U.S. dollar, with USD/CHF shedding 0.47% to hit 0.8499.
In a report, the Swiss SVME purchasing managers' association and Credit Suisse said that its purchasing managers’ index rose to a seasonally adjusted 59.2 in May, up from 58.4 in April.
Analysts had expected the index to decline to 57.6 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 up against the U.S. dollar, with USD/CHF shedding 0.47% to hit 0.8499.