Swiss Factory Activity Hits 5-Month Low

Switzerland’s procure.ch–UBS Manufacturing PMI fell to 53.2 in July 2026 from 54.3 in the previous month, falling short of market expectations of 55. The reading marked the weakest level since February, as growth momentum softened across key components, with production expansion slowing to 54.2 from 57.0 in June and order books edging down to 53.2 from 53.5. Purchasing activity also weakened, with purchasing volumes falling into contraction territory at 48.1 from 50.9 and purchasing inventories declining to 47.5 from 50.4. Moreover, sales stocks (46.8 vs 48.1) and employment (47.7 vs 48.9) continued to deteriorate. Supplier delivery times lengthened further (62.9 vs 60.9), indicating rising delivery delays. On the price front, cost pressures intensified, with the index jumping to 74.2 in July, from 72.8 in the previous month.

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.