September 1, 2014 / 7:37 AM / 3 years ago

TABLE-Swiss PMI falls to 52.9 in Aug

ZURICH, Sept 1 (Reuters) - The Swiss purchasing managers'
index fell to a seasonally adjusted 52.9 points in August from
54.3 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)    
    
             Aug '14     July '14    Aug '13
 PMI         52.9        54.3        54.7
  
    
    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           55.2           0.9
 Orderbook            49.9          -6.1
 Purchasing           51.6          -0.3
 volume                     
 Purchasing           51.6          -3.6
 prices                     
 Delivery times       54.5          -3.1
 Stocks               55.4           3.3
 purchased                  
 Sales stocks         54.5           6.4
 Employment           52.3           1.8
    
  KEY POINTS FROM THE STATEMENT:
    * "The fall in the index is attributable to two subindices -
"backlog of orders" and "suppliers' delivery times". The
"backlog of orders" subindex declined by 6.1 points to 49.9
points and "suppliers' delivery times" by 3.1 points to 54.5
points."
    *  "While isolated month-on-month changes should not be
overinterpreted, an accelerated rise in stocks is a sign either
that industry is expecting an imminent sharp increase in demand
or that current demand has been too optimistically forecast. In
view of the lower backlog of orders, the latter is more likely
to be the case - companies have probably been too optimistic in
the recent past."
    
    For more details of the Credit Suisse/SVME statement Reuters
3000 Xtra users can click on:
    
    
here
 
.BusinessCycle
    
    FORECASTS IN REUTERS POLL:        
    
 MEDIAN      53.3
 LOW         52.8
 HIGH        54.5
 
        
    BACKGROUND
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