Credit Suisse released its manufacturing purchasing managers' index (PMI) for Switzerland on Thursday. The manufacturing purchasing managers' index in Switzerland declined to 49.5 in September from 52.2 in August, missing expectations for a decrease to 51.8.

A reading above 50 indicates contraction.

The decrease was largely driven by a drop in production. The production was down to 49.1 in September from 62.4.

Purchase prices decreased to 35.1 in September from 36.1 in August, while the backlog of orders sub-index fell to 51.5 from 52.4.