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Credit Suisse and procure.ch released their manufacturing purchasing managers' index (PMI) for Switzerland on Wednesday. The manufacturing purchasing managers' index in Switzerland climbed to 55.8 in May from 54.7 in April, beating expectations for a decline to 54.0. It was the highest level since February 2014.
A reading above 50 indicates expansion.
The increase was mainly driven by a rise in backlog of orders sub-indexes.
The production decreased to 52.7 in May from 59.4 in April, while the backlog of orders sub-index jumped to 60.2 from 57.6.
Purchase prices were up to 51.9 in May from 47.3 in April.
Employment rose to 50.0 in May from 49.1 in April.
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