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Swiss SVME PMI rises unexpectedly in May


Forex Pros – Manufacturing activity in Switzerland rose unexpectedly in May, industry data showed on Wednesday.

In a report, the Swiss SVME purchasing managers' association and Credit Suisse said that its purchasing managers’ index rose to a seasonally adjusted 59.2 in May, up from 58.4 in April. 

Analysts had expected the index to decline to 57.6 in May.

On the index, a reading above 50.0 indicates expansion, below indicates contraction.

Following the release of the data, the Swiss franc was up against the U.S. dollar, with USD/CHF shedding 0.47% to hit 0.8499. - Forex Pros offers a diverse set of professional tools for Forex, Futures and CFDs. These include real-time data streams, technical and fundamental analysis by in-house experts, and a widely used economic calendar and Forex News.

The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.


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