Credit Suisse and procure.ch released their manufacturing purchasing managers' index (PMI) for Switzerland on Monday. The manufacturing purchasing managers' index in Switzerland climbed to 50.7 in October from 49.5 in September, exceeding expectations for an increase to 50.2.

A reading above 50 indicates contraction.

The increase was largely driven by a rise in production. The production increased to 53.7 in October from 49.1 in September.

Purchase prices increased to 36.1 in October from 35.1 in September, while the backlog of orders sub-index fell to 51.2 from 51.5.

Employment rose to 44.0 in October from 43.6 in September.