Economy Sentiment in industry clouds over at the end of the year
The mood among Swiss industrial companies deteriorated again in December. The lean period that has lasted for three years is thus continuing. In contrast, the picture in the service sector brightened noticeably.
05.01.2026, 10:24
SDA
The Purchasing Managers' Index (PMI) for industry fell by 3.9 points to 45.8 points in December compared to the previous month, as announced by the major bank UBS and the purchasing trade association Procure.ch on Monday. It is thus clearly below the 49.5 to 50.4 points expected by economists.
The index has thus remained below the growth threshold of 50 points for exactly three years. At values below 50 points, the companies surveyed assume that economic activity is shrinking. If the index is above this level, then growth can be assumed.
UBS also writes of a persistently tense situation or a continuing lean period. Despite interim recoveries in August 2024, February 2025 and November 2025, the slump could never be completely overcome - the leap above the 50-point mark failed to materialize in each case.
In contrast, the PMI for the services sector rose sharply. It climbed by 6.9 points to 52.1 points at the end of the year, thus exceeding the growth threshold. According to the report, the order situation in particular has recovered significantly among service providers. In the AWP survey, economists had clearly expected less, with a range of 48.5 to 50.4 points.
