FX.co ★ Swiss Manufacturing PMI Declines Slightly in July, Reaching 43.5

In July 2024, Switzerland's procure.ch Purchasing Managers' Index (PMI) recorded a small decline, dropping to 43.5 from the previous month's 43.9. Released on August 2, 2024, the latest data signals continued contraction in the manufacturing sector.

Despite the minimal drop of 0.4 points, the persistent sub-50 reading underscores ongoing challenges within Swiss manufacturing. The PMI below 50 indicates a contraction, highlighting reduced production, new orders, and employment levels in the sector. Economic analysts believe that a variety of factors, including global supply chain disruptions and fluctuating demand, are still affecting the industry.

Switzerland's manufacturing industry, a critical component of its economy, remains under pressure. Businesses and policymakers will be keenly observing upcoming data to gauge whether further strategic interventions are necessary to support the sector's recovery and ensure long-term stability.