RTTNews - Tuesday, the Credit Suisse said the SVME purchasing managers' index for Switzerland rose to 39.8 in May from 34.7 in April, the strongest increase since September 2005.
The PMI rose for the second straight month, breaking the 15-month downtrend that has been in place since December 2007. Meanwhile, economists had forecast a reading of 36.5. However, the index is still below the 50-mark that divides expansion from contraction.
All five subcomponents made gains, but remained below the 50-point threshold. The output component rose 10.8 points to 43.7, its sharpest-ever rise since the survey began in 1995.
The backlog of orders and suppliers' delivery times components crossed 40 for the first time in six months, indicating that the pace of decline in these components has eased notably. The corresponding indicators stood at 40.1 and 40.3 respectively. Further, the employment component climbed 3.9 points reach 35.8.
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