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.
Investing.com offers an extensive set of professional tools for the financial markets.
Read more News on Investing.com and download the new Investing.com Stocks & Forex App for Android!
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.