Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Swiss Manufacturing Output Expands for 1st Time Since ’11

Don't Miss Out —
Follow us on:

Feb. 1 (Bloomberg) -- Swiss manufacturing output expanded for the first time in 17 months in January, adding to signs that the economy is stabilizing.

The procure.ch Purchasing Managers’ Index advanced to 52.5 from a revised 49.2 in December, when adjusted for seasonal swings, Credit Suisse Group AG said. That’s the first reading above 50, signaling expansion, since August 2011. Economists forecast an increase to 50.5, the median of 10 estimates in a Bloomberg News survey showed.

Simultaneously with a depreciation of the Swiss franc against the euro since the start of the year, “industry appears to have finally passed the trough,” Zurich-based Credit Suisse said today in an e-mailed statement.

A measure of Swiss manufacturers’ output rose 6.7 points to 56.3 in January, today’s report showed. A gauge of order backlogs increased 3 points to 57.9, and an indicator of employment advanced to 48.1, Credit Suisse said.

To contact the reporter on this story: Zoe Schneeweiss in Zurich at zschneeweiss@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.