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Swiss Factory Growth Strongest Since July 2010

Swiss manufacturing activity expanded at the fastest pace in nearly seven-and-a-half years in December, survey data from Credit Suisse and the logistics association procure.ch showed Wednesday.

The seasonally adjusted Purchasing Managers' Index, or PMI, rose marginally to 65.2 in December from 65.1 in November. Any reading above 50 indicates expansion in the sector.

Among components, output, new orders, employment all increased at faster rates in December.

At the same time, services PMI dropped to 55.7 in December from 61.5 percent in the prior month.

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