Swiss Sept PMI 64.4 vs record 68.2 in Aug, in line with expectations

The Swiss Purchasing Manager Index (PMI) fell to 64.4 in September from a record 68.2 last month, said the purchasing managers' association SVME and Credit Suisse, the compilers of the indicator. Economists polled by AFX News had forecast the PMI to reach between 63.6 and 66.0 points. "The current figures continue to reflect very lively industrial growth, even though capacity utilization is no longer increasing at the same pace as in the high summer," Credit Suisse said. The Swiss bank also said that "with the exception of a dip in February 2005, the PMI has remained above the critical 50-point growth threshold for three years now," representing the longest phase of industrial expansion since the index was launched in early 1995.