Zurich, Switzerland (Reuters) – Switzerland’s manufacturing Purchasing Managers Index (PMI) went down again in April, even though prices went up all over the country.
The State Secretariat for Economic Affairs (SECO) looked at consumer mood and found that it had gone down a lot. People are feeling the effects of rising prices.
The PMI index, which indicates the industrial sector’s health over the next three to six months, decreased to 62.5 points in April from 64.0 points in March.
Nonetheless, the number stayed over the 50 mark, indicating growth.
“Supply chain difficulties are increasingly dissipating. However, prices continue to rise, and there are no indicators that this trend will reverse considerably in the near future. “Credit Suisse (SIX: CSGN), in collaboration with the Swiss purchasing managers’ organization procure.ch, produces the PMI survey.
Credit Suisse stated, “The large backlog of orders and a healthy labour market are optimistic signals for the future trend,” The recovery in Swiss manufacturing continues, but there are mounting signals that the pace of growth is decreasing, the report said.
The PMI study revealed that although delivery issues had improved somewhat, buy prices were increasing broadly, with 89 percent of enterprises responding to the poll reporting increased procurement costs.
The SECO consumer sentiment index for April indicated a significant decline in consumer mood, particularly on consumers’ outlook for the overall economic situation.
Consumer sentiment fell to 27.4 points in April, down from -3.8 points in January, SECO stated in a statement. This is the index’s worst decrease since the pandemic began in the spring of 2020.
“As prices continue to climb, households are feeling the pinch,” SECO warned.