(RTTNews) - Swiss manufacturing activity eased notably in December from November's four-month high, survey results from the SVME Association of Purchasing and Materials Management and Credit Suisse showed Monday.Production in Swiss manufacturing sector continued to grow during the month. The corresponding index rose to 65.3 in December from 64.2 in November, suggesting a stronger output growth. This latest increase follows on from months of extreme volatility, which saw it drop a total of 12.1 points over three months.
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Swiss Manufacturing Activity Slows More Than Forecast In December
(RTTNews) - Swiss manufacturing activity eased notably in December from November's four-month high, survey results from the SVME Association of Purchasing and Materials Management and Credit Suisse showed Monday.
The seasonally adjusted SVME Purchasing Managers' Index declined to 59.6 in December from 61.8 in November. Economists were expecting the score to be 61.5. A reading above 50 suggests expansion in the sector.
Production in Swiss manufacturing sector continued to grow during the month. The corresponding index rose to 65.3 in December from 64.2 in November, suggesting a stronger output growth. This latest increase follows on from months of extreme volatility, which saw it drop a total of 12.1 points over three months.
The index for the backlog of orders fell to 59 points from 62.2 in the previous month. However, oder intake grew for the seventeenth month in a row. The sideways trend in the new orders component since August 2010 indicates steady growth in output over the months to come, the survey report said.
Purchasing prices are clearly rising across the board and the purchasing prices index jumped to 72.1 points in December from 63.1 in the previous month. Swiss manufacturers eased their hiring activity during the month, though employment rose for the tenth successive month. The employment index slipped to 56.4 from 58.8.
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