RTTNews - Wednesday, the Credit Suisse said the SVME purchasing mangers' index or PMI for Switzerland rose for the third consecutive month in June, indicating that the pace of slowdown is easing.
The PMI rose to 41.8 in June from 39.8 in May. That was above the expected reading of 41. However, the index still remains below the 50-mark that divides contraction and expansion.
The Credit Suisse said the PMI's components are also giving some glimmers of hope. At 48.8, the output indicator is only just outside the growth zone. The backlog of orders component rose 4.6 points to 44.7, extending its increase that started over past five months.
The quantities of purchases component dropped by 2.8 points to a new all-time low of 33.3, a sign that companies are adjusting inventories rapidly to weaker demand.
The declines in suppliers' delivery times, by 1.4 points to 38.9 points and in employment by 0.7 points to 35 are less positive, as they point to insufficient capacity utilization at present, though capacity remains high, the report showed.
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