Swiss SVME manufacturing PMI climbed in August

  • The SVME manufacturing PMI in Switzerland recorded a rise to 51.00 in August, compared to a level of 50.10 in the prior month. Markets were anticipating the SVME manufacturing PMI to climb to a level of 50.60.
  • The seasonally adjusted Swiss PMI rose to 51 in August of 2016 from 50.1 in the previous month and above market expectations of 50.5. Production expanded at a faster pace (54.6 from 53.6 in July) and new orders rebounded (50.8 from 49.3).
  • In contrast, purchasing volume fell further (42.8 from 48.3) and job creation remained in the negative territory (48.2 from 46.7). Manufacturing PMI in Switzerland averaged 53.45 from 1995 until 2016, reaching an all time high of 66 in December of 2006 and a record low of 32.40 in March of 2009.

The seasonally adjusted Swiss PMI rose

Swiss SVME manufacturing PMI climbed in August

The SVME Manufacturing Purchasing Managers Index (PMI) released by the Schweizerischer Verband für Materialwirtschaft und Einkauf and Credit Suisse captures business conditions in the manufacturing sector. The Manufacturing PMI is an important indicator of production growth in Switzerland. A result that values above 50 signals appreciates (or is bullish for) the CHF, whereas a result that values below 50 is seen as negative (or bearish).

 

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Jadtecnic

Richard Dambrosi (JADTECNIC) Has Been Sharing FOREX INVESTORS ANALYSIS FORECAST since 2011. Editors and Founder of InvestorsBuz.com, has a passion for Forex Social Sharing analysis and Market Trends Such as Self Driving Cars, Electric Cars, Medical Marijuana, 3d printing and Cloud computing, Refers to Readers as BUZ INVESTORS.

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