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Swiss SVME PMI falls to 11-month low of 52.5 in May

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Investing.com -

Investing.com - Manufacturing activity in Switzerland in May grew at the slowest rate since June 2013, industry data showed on Monday.

In a report, the Swiss SVME purchasing managers' association and Credit Suisse said that its purchasing managers' index declined to a seasonally adjusted 52.5 last month from a reading of 55.8 in April. Analysts had expected the index to dip to 55.0 in May.

On the index, a reading above 50.0 indicates expansion, below indicates contraction.

Following the release of the data, the Swiss franc was lower against the U.S. dollar, with USD/CHF rising 0.25% to trade at 0.8976.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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