February 2, 2015 / 8:37 AM / 3 years ago

TABLE-Swiss PMI falls to 48.2 in January

ZURICH, Feb 2 (Reuters) - The Swiss purchasing managers'
index fell to a seasonally adjusted 48.2 points in January from
53.6 points in the previous month, data showed on Monday.
    The index is compiled by the Swiss SVME purchasing managers'
association and Credit Suisse.
    
    KEY FIGURES
    (in points, seasonally adjusted)    
    
             Jan 2015    Dec 2014    Jan 2014
 PMI         48.2        53.6        55.4
  
    
    NOTE - The index is calculated on the basis of a monthly 
survey of SVME members; a value for the main index above 50 
points indicates the manufacturing sector is expanding, a value 
below 50 signals a contraction.
    
    
 Sub-indices                  m/m change
                                  in pts
 Production           51.1          -6.0
 Orderbook            44.2          -9.4
 Purchasing           44.8          -6.4
 volume                     
 Purchasing           21.2         -26.7
 prices                     
 Delivery times       52.4          -4.0
 Stocks               46.0          -1.0
 purchased                  
 Sales stocks         41.9          -5.3
 Employment           48.7          -1.6
    
  KEY POINTS FROM THE STATEMENT:
    * "Clearly only very few companies expected the SNB to
withdraw the minimum exchange rate. The corporate landscape has
therefore been very negatively affected by the dramatic
appreciation of the currency."
    * "Losses on sales (due to appreciation of the Swiss franc)
by far outweigh savings on purchases: The projected overall loss
amounts to around 18 billion francs."
    * "Eighty-five percent of companies have already adopted
specific measures to mitigate the impact of the appreciation of
the franc. The most frequently cited of these is to seek
dialogue with suppliers and request price discounts."
    
      For more details of the Credit Suisse/SVME statement
Reuters 3000 Xtra users can click on:
    
    
here
 
.BusinessCycle
    
    FORECASTS IN REUTERS POLL:        
    
 MEDIAN      50.4
 LOW         49.0
 HIGH        53.0
 
        
    BACKGROUND
    For a story on Swiss economy click on...  
    For recent Swiss National Bank comments...

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