RTTNews - Switzerland's Purchasing Managers' Index rose to 50.2 in August from 44.3 in July, a survey from the SVME Association of Purchasing and Materials Management and Credit Suisse showed Tuesday. The indicator also stood above the expected level of 46.9.

A reading below 50 suggests contraction in economic activity, while a level above 50 indicates expansion.

All five sub-indices of the PMI improved from July. Only the stocks of purchases and employment sub-indices remain outside the growth zone. The survey found that output increased month-on-month in August for the first time in a year.

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