Swiss Factory Activity Expands In March

Swiss manufacturing activity expanded for the first time in seven months in March, a key survey revealed Monday.

The procure.ch/Credit Suisse Purchasing Managers' index posted 51.1 in March, up from 49 in February. A reading above 50 indicates expansion of the sector and a reading below 50 suggests contraction.

The Swiss industry is clearly benefiting directly from the recent easing of tension in the euro zone, the survey report said.

Order books expanded the most with the corresponding index closing well within the growth zone at 55.3 points. The "Output" subcomponent at 52.6 points also exceeded the growth threshold with production increasing for the fourth month in succession.