The Swiss PMI edged up to 48.6 in May of 2019 from 48.5 in the previous month and missing market expectations of 49.1. It was the second straight monthly contraction, amid falls in employment (-4.4 points to 48.6), sales stocks (-1 point to 50.6) and delivery times (-0.1 point to 48.6). Meanwhile, increases were recorded for production (+0.7 points to 48.8); new orders (+1.6 points to 46.6); purchasing volume (+2.1 points to 48.7); purchasing prices (+0.4 points to 48.9) and stocks purchased (+3.5 points to 54.6). Manufacturing PMI in Switzerland averaged 54.03 from 1995 until 2019, reaching an all time high of 66.90 in December of 2006 and a record low of 32.80 in March of 2009.
Manufacturing PMI in Switzerland is expected to be 52.50 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 53.00 in 12 months time. In the long-term, the Switzerland Manufacturing PMI is projected to trend around 54.00 in 2020, according to our econometric models.