Swiss Manufacturing PMI Hits Record Low as Orders Evaporated

Swiss February manufacturing PMI hit a record low of 32.6, a sharp slump from January’s 35.0 and against a Reuters median estimate for 34.5. This is the weakest since the series began in 1995 and compares to 60.2 in February last year. Today’s PMI reading follows last week’s record low KOF leading indicator reading and emphasizes how quickly the Swiss economy is now deteriorating.