Investing.com – Manufacturing activity in Switzerland unexpectedly declined in April, industry data showed on Monday.
In a report, the Swiss SVME purchasing managers' association and Credit Suisse said that its purchasing managers’ index fell to a seasonally adjusted 58.4 in April, down from 59.3 in March.
Analysts had expected the index to rise to 59.8 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 down against the U.S. dollar, with USD/CHF climbing 0.39% to hit 0.8688.
In a report, the Swiss SVME purchasing managers' association and Credit Suisse said that its purchasing managers’ index fell to a seasonally adjusted 58.4 in April, down from 59.3 in March.
Analysts had expected the index to rise to 59.8 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 down against the U.S. dollar, with USD/CHF climbing 0.39% to hit 0.8688.