Credit Suisse and procure.ch released their manufacturing purchasing managers' index (PMI) for Switzerland on Tuesday. The manufacturing purchasing managers' index in Switzerland fell to 49.7 in November from 50.7 in October, missing expectations for an increase to 51.0.

A reading above 50 indicates contraction.

The decline was largely driven by a drop in production. The production decreased to 49.5 In November from 53.7 in October.

Purchase prices increased to 38.4 in November from 36.1 in October, while the backlog of orders sub-index rose to 51.5 from 51.2.

Employment fell to 43.9 in November from 44.0 in October.