The survey released by the Schweizerischer Verband für Materialwirtschaft und Einkauf and Credit Suisse revealed the Swiss manufacturing sector continued to expand in January, albeit at a slower pace than in December 2018.

Switzerland’s SVME manufacturing PMI came in at 54.3 in January on a seasonally adjusted basis, down from the previous month's reading of 57.5. That was the lowest reading since August 2016.

Economists’ had predicted the reading to fall to 55.8.  

The 50 mark divides contraction and expansion.