The Swiss SVME Purchasing Managers' Index rose to 34.7 points in April from 32.6 points logged in the previous month, a report from Credit Suisse showed Monday. The index stood above the expected reading of 34.

The downturn is finally losing momentum, but industrial activity remains in clear decline. A reading below 50 suggests contraction in economic activity. The PMI remains well outside the growth zone, and has now languished below this threshold for eight consecutive months.

The SVME Purchasing Managers' Index is a joint project between the SVME Association of Purchasing and Materials Management and Credit Suisse.

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