ZURICH, Reuters – In April, the Swiss Manufacturing Purchasing Managers Index(PMI) showed a downward trend, according to Monday’s data. Prices continued their upward climb.

On Monday, the State Secretariat for Economic Affairs published a consumer sentiment index. It showed that consumers feel more stressed by rising prices.

PMI, which indicates the industry’s overall health for the three-to-six months ahead of March’s 64.0 point mark, dropped to 62.5 points from March’s 64.0 point reading.

Yet, it remained at or above 50 which suggests expansion.

“Supply chain issues are gradually improving. “But, prices continue to rise and this trend is not slowing down for the moment,” said Credit Suisse (SIX): This compiles PMI surveys with procure.ch.

Credit Suisse stated that the high order backlog and strong labour market were encouraging indicators for the future trend. Although the Swiss manufacturing sector is recovering, Credit Suisse said there were growing indications that momentum is slowing.

PMI’s survey revealed that delivery issues had improved a bit, however, purchase prices continued to rise on a large scale. 89% of those surveyed reported higher procurement costs.

SECO’s April consumer sentiment index showed significant declines in consumer sentiment. This was mainly due to consumers’ expectations for the economic future.

The consumer sentiment index plunged to −27.4 points in April, from -3.8 points in January, its biggest decline since the onset of the pandemic in the spring of 2020, SECO said in a statement.

SECO reported that households are experiencing strain due to rising prices.