FX.co ★ Swiss Manufacturing PMI Climbs in January, Signalling Easing Downturn

Switzerland’s manufacturing sector showed signs of stabilisation at the start of the year, as the procure.ch Manufacturing PMI rose to 48.8 in January 2026 from 45.8 in December 2025.

Although the index remains below the 50-point threshold that separates expansion from contraction, the three-point increase suggests that the downturn in Swiss industry is easing. The January reading indicates a slower pace of decline in manufacturing activity compared with the previous month.

The latest data, updated on 2 February 2026, will be closely watched by market participants and policymakers as they assess whether the sector is moving towards a potential return to growth in the coming months.