Swiss Manufacturing Has Failed to Grow for a Year

(Bloomberg) — Swiss manufacturing activity saw a slight uptick in December, but stayed below the growth threshold for a 12th month, with a Purchasing Managers’ Index reading of 43 points. Output and order backlog remained at depressed levels, so any rapid improvements are unlikely, according to UBS and procure.ch who calculate the gauge. After one quarter of contraction last year and exports squeezed by a strong franc, this suggests that Switzerland’s economy will continue to stumble.

–With assistance from Joel Rinneby and Kristian Siedenburg.

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