Forexpros – Manufacturing activity in Switzerland improved more-than-expected in February, but remained in contraction territory for the fifth consecutive month, industry data showed on Thursday.
In a report, the Swiss SVME purchasing managers’ association and Credit Suisse said that its purchasing managers’ index rose by 1.7 points to a seasonally adjusted 49.0 in February from a reading of 47.3 in January.
Analysts had expected the index to rise by 1.2 points to 48.5 in February.
On the index, a reading above 50.0 indicates expansion, below indicates contraction.
Following the release of the data, the Swiss franc was flat against the U.S. dollar, trading at 0.9044.
Forexpros
