Swiss Industry Recovers From Covid-19 Slump and Redirects Orders
A Swiss national flag flies in front of the Swiss National Bank in Bern, Switzerland. (Photographer: Stefan Wermuth/Bloomberg)

Swiss Industry Recovers From Covid-19 Slump and Redirects Orders

Activity among Switzerland’s manufacturers has effectively bounced back to its pre-crisis level, with businesses saying they’re re-directing supply chains in response to the pandemic.

The procure.ch Purchasing Managers’ Index increased to 49.2 points in July, just shy of the 50-point growth threshold, according to a statement on Monday.

Swiss Industry Recovers From Covid-19 Slump and Redirects Orders

The survey found that more than a third of the businesses reacted to Covid-19 disruptions by purchasing more in Switzerland and in the neighboring European Union.

“In general, companies have also been aiming to diversify their supplier base more broadly,” it said. “Every second company plans to restructure its supply chain in future to focus predominantly on suppliers from the EU.”

©2020 Bloomberg L.P.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.