Swiss Factory Activity Hits 3-Month Low

Switzerland’s procure.ch–UBS Manufacturing PMI fell to 54.3 in June 2026 from a near four-year high of 57.3 in the previous month, coming in below market expectations of 56.5. While the reading remained comfortably above the 50-point threshold that separates expansion from contraction, it marked the lowest level since March. The slowdown was driven by softer growth across several key components, including order books (down 5.9 points to 53.5), purchasing volumes (down 0.8 points to 50.9), production (down 0.3 points to 57.0), and employment (down 1.0 point to 48.9). Meanwhile, supplier delivery times shortened, with the corresponding index falling 4.8 points to 60.9, while the sales stocks index increased 2.7 points to 48.1. On the price front, cost pressures eased significantly, as the purchasing prices index dropped 9.9 points to 72.8.

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.