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According to UBS’s statement on Wednesday, industrial PMI decreased by 4.3 points to 40.6 points in October. (Formerly CS) calculates the index together with procure.ch, the Swiss Association for Purchasing and Supply Management. The forecast values of economists surveyed by the AWP news agency were in the range of 43.0 to 45.5 points.
Production fell more sharply than in the previous month, and lower orders offer little reason to hope for a quick recovery, according to experts.
In July, the PMI index fell to 38.5 points, its lowest level since 2009. PMI values of 50 points and above indicate growth and are therefore positive. Values below 50 points indicate a decline.
The services sector PMI, which focuses more on domestic consumption, performed better. Despite the decrease, it still remained above the growth threshold at 52.2 points (-0.6 points), indicating slightly positive dynamics in the sector.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
