The Swiss PMI rose to a seasonally adjusted 57.7 in November 2018 from 57.4 in the previous month above market expectations of 56.3. The reading pointed to a stronger expansion in factory activity, as production (up 4.3 points to 58.4); employment (up 2.5 points to 57.9); new orders (up 1 point to 57.3) and purchasing prices (up 1.5 points to 61.9) increased. Meanwhile, purchasing volume (down 0.6 points to 53.1); sales stocks (down 1 point to 53.5); delivery times (down 6.4 points to 61.8) and stocks purchased (down 6.8 points to 50.5) dropped. Manufacturing PMI in Switzerland averaged 54.07 from 1995 until 2018, reaching an all time high of 66.90 in December of 2006 and a record low of 32.90 in March of 2009.
Manufacturing PMI in Switzerland is expected to be 60.90 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing PMI in Switzerland to stand at 55.64 in 12 months time. In the long-term, the Switzerland Manufacturing PMI is projected to trend around 57.20 in 2020, according to our econometric models.