World Economy

Swiss Factory Growth Slows

Swiss Factory Growth SlowsSwiss Factory Growth Slows

Switzerland’s manufacturing output growth slowed in November, data showed Monday, indicating demand for the Alpine country’s industrial goods is being eroded by sluggish growth in its primary export markets in Europe, Nasdaq reported. The Swiss Purchasing Managers’ Index fell to a seasonally-adjusted 52.1 points in November, from 55.3 in October, and below economists’ average forecast of 54.3. The decline in the November index is the third in the past four months, although it is still holding above the 50-point threshold that marks the difference between contraction and expansion. While the Swiss manufacturing industry “seems to have lost momentum slightly” it is still holding up and is creating new jobs again, wrote analysts at Credit Suisse Group AG.