Swiss Factory Activity Hits Near 4-Year High

Switzerland’s procure.ch–UBS Manufacturing PMI jumped to 57.3 in May 2026 from 54.5 in the previous month, exceeding market expectations of 54. It marked the highest reading since July 2022, driven by stronger expansion in both production (up 5.0 points to 57.3) and order books (up 3.3 points to 59.4). The employment sub-index also improved, rising 1.5 points to 49.9, though it remained slightly below the 50 threshold. Meanwhile, supplier delivery times lengthened further, with the corresponding index increasing 1.6 points to 65.7, indicating ongoing supply-chain strains. Purchasing volume also fell by 2.8 points to 51.7. Moreover, the sales stocks index dropped 3.5 points to 45.4, while stocks purchased were unchanged at 53.3. On the price front, cost pressures eased marginally, as the purchasing prices index edged down 0.1 point to 82.7.

Switzerland’s procure.ch–UBS Manufacturing PMI rose to 54.5 in April 2026, from 53.3 in the previous month and exceeding market expectations of 52. It marked the second consecutive month in expansionary territory and the strongest reading since October 2022, as continued expansion was recorded in production (+1.7 percentage points to 52.3), order books (+1.9 percentage points to 56.1), and purchasing volume (+6.1 percentage points to 54.4). Employment also showed a modest improvement, rising by 1.0 point to 48.5, though it remained slightly below the 50 threshold, suggesting ongoing but easing labour market weakness in manufacturing. Delivery times increased by 0.5 points to 64.1, consistent with continued supplier strain. In contrast, stocks of purchases edged down by 0.1 point to 53.4, while finished goods inventories declined by 1.4 points to 48.9. On the price front, cost pressures intensified sharply, as purchasing prices surged by 11.5 points to 82.8.

Switzerland’s procure.ch and UBS Manufacturing PMI rose sharply to 53.3 in March 2026 from 47.4 in the previous month, well above market expectations of 47.0 and signaling a return to expansion for the first time since December 2022. The reading also marked the highest level recorded since that period, as improvements were observed across key components. Production increased by 3.6 points to 50.6, while new orders surged by 7.3 points to 54.2. Purchasing activity also picked up, rising by 3.3 points to 48.3, though it remained slightly below the neutral 50 threshold. Stocks of purchases climbed by 14.8 points to 53.5, while finished goods inventories increased by 7.3 points to 50.3. Meanwhile, supplier delivery times jumped by 10.2 points to 63.6. The labor market component lagged behind the broader recovery, with the employment index slipping by 1.1 points to 47.5, indicating continued contraction in hiring. On the cost side, purchasing prices surged by 15.5 points to 71.3.