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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
SwitzerlandSwitzerland SVME Manufacturing PMI fell to 48.8 in November 2019
FMPMonthlyReleased December 2019
Switzerland SVME Manufacturing PMI fell to 48.8 in November 2019, released December 2019, down 0.6 from October's 49.4 reading. The reading matched the 48.6 consensus. Year-over-year, the indicator is down 8.9. Over the past 3 months, SVME Manufacturing PMI averaged 47, vs 46.7 in the prior 3-month window. The reading is in the 30th percentile of the trailing 24-month range.
Latest Release
48.8
Actual
48.6
Consensus
49.4
Previous
Median Absolute Error
±1.48
across last 12 releases
Last Call
Dec 2019
Predicted: 49.23
Actual: 48.8
Error: +0.43
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| USD/CHF | ▼ Inverse | −0.50 | FOREX | Bullish CHF | → View |
| EUR/CHF | ▼ Inverse | −0.45 | FOREX | Bearish EUR | → View |
| CHF/JPY | ▲ Direct | +0.40 | FOREX | Bullish CHF | → View |
| XAU/USD | ▲ Direct | +0.35 | COMMODITIES | Watch | → View |
| GBP/CHF | ▼ Inverse | −0.35 | FOREX | Bullish CHF | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
SVME Manufacturing PMI (Switzerland) was reported at 48.80 in December 2019. This beat the market consensus of 48.60 by 0.20. The reading fell from the previous value of 49.40. This is classified as a medium-impact indicator released on a monthly basis.
WHY IT MATTERS
The trailing three releases averaged 47.60, up from the prior three at 46.53.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with USD/CHF (Bullish CHF). A secondary relationship exists with EUR/CHF, negatively correlated (Bearish EUR). Over the last 12 releases, the Sigmacast model's median absolute error is 1.48.
WHAT TO WATCH NEXT
Same-country events in the next 14 days include KOF Leading Indicators (Jun 30) and Retail Sales YoY (Jul 1).
Auto-generated from current model state · Refreshes on each release · Last update December 2019.
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SVME Manufacturing PMI - CH
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About SVME Manufacturing PMI — Switzerland
DEFINITION
SVME Manufacturing PMI is a key economic indicator that measures the performance of the manufacturing sector in Switzerland. It is based on a monthly survey of purchasing managers and provides valuable insights into the overall health and growth of the country's manufacturing industry. This indicator is widely used by investors, policymakers, and businesses to make informed decisions and assess the current state of the Swiss economy. A reading above 50 indicates expansion in the sector, while a reading below 50 suggests contraction. With its timely and reliable data, SVME Manufacturing PMI is an essential tool for monitoring and forecasting economic trends in Switzerland.
WHY THIS INDICATOR MATTERS
Sentiment surveys are forward-looking inputs that often lead hard data on output and hiring. Sharp swings can drive cross-asset repricing. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Nov 2019): actual 48.8, consensus 48.6. Prior reading (Oct 2019): 49.4. Before that (Sep 2019): 44.6.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with USD/CHF (Bullish CHF, r=-0.50) — a useful reference for forex-focused traders.
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EXPECTED ZONE
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Economic Calendar - CH Events
| Tuesday, June 30, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 07:00 | CH | KOF Leading Indicators | 98 | 97.8 | 94.85 | Medium | |