Customs threats
Swiss manufacturers absorb the price shock in June
The morale of industrialists has improved significantly. This recovery is however fragile in the face of the risks of new American customs rights.
The PMI of Swiss industrialists jumped 7.5 points.
KEYSTONE/Laurent Gillieron
The morale of industrialists in Switzerland has improved significantly in June, reconnecting with its levels of the beginning of the year, before the announcements of customs duties by Washington. On the side of services, however, confidence has dropped.
L’Buying directors index (PMI) In the excessive industry compiled by the cabinet provides.ch and commented by UBS, jumped 7.5 points last month compared to May at 49.6 points, approaching its growth threshold of 50 points, can be read in a press release released on Tuesday.
In the service sector, the PMI has dropped 7.7 points to stand at 48.5 points, retreating below the growth threshold of 50 points for the first time since July 2024.
Customs rights threats
These figures differ very clearly from the anticipations of economists. The latter provided for a PMI, corrected for seasonal variations, between 43.5 and 45.4 points in industry and from 51.0 to 53.8 points in the services.
In the industry, the order components of orders, production and employment supported the index, improving 14.5 points respectively, 7.3 points and 4.1 points, to stand at 50.4 points, 49.7 points and 47.7 points. On the other hand, the stocks of raw materials (40.1 points) and finished products (42.7 points) remained stable at low levels, due to destocking initiated in May 2023. The delivery times at the same time increased by (+4.6 to 56.4 points). Purchasing prices tend to drop (-1.3 to 47.1 points).
“It remains to be seen if this recovery will be durable. The geopolitical and commercial risks remain high, given the expiration in July of the suspensions of the new customs duties decided by the American administration, “write the banks of the bank with the three keys.
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