Investing.com - Manufacturing activity in Switzerland grew at the fastest rate since May 2011 in February, industry data showed on Monday.
In a report, the Swiss SVME purchasing managers'' association and Credit Suisse said that its purchasing managers’ index inched up to a seasonally adjusted 57.6 last month from a reading of 56.1 in January. Analysts had expected the index to dip to 56.0 in February.
On the index, a reading above 50.0 indicates expansion, below indicates contraction.
Following the release of the data, the Swiss franc was modestly lower against the U.S. dollar, with USD/CHF rising 0.05% to trade at 0.8808.