Latest data released by Procure - 1 October 2021
- Prior 67.7
A surprise beat as Swiss manufacturing activity continues to keep more robust, a sixth straight month that it has topped the pre-pandemic record back in November 2006 and the latest reading last month is just off the all-time high of 71.1 in July.
That said, there is a caveat as the surge comes from manufacturers scrambling ot buy what inputs they can in order to purchase inventories in a time where supply bottlenecks are going to pose a big problem in the months ahead. Procure notes that:
"The purchasing situation remains challenging against a backdrop of higher purchase prices and longer delivery times. Businesses are buying as much as possible and replenishing their purchase inventories. meanwhile, falling inventories of finished goods are pointing to exceptionally strong demand."
