Switzerland's manufacturing sector expanded unexpectedly in April, after contracting in the previous month, data from a survey showed Thursday.
The seasonally adjusted purchasing managers' index for the manufacturing sector increased to 50.2 in April from 48.3 in March, Credit Suisse said. Economists were looking for a reading of 49.
An index reading above 50 indicates expansion in the sector, while one below suggests decline. This year, the index stayed in the growth zone in all months except March.
Production at Swiss factories increased in April after falling in the previous month. Meanwhile, new orders declined again. Input prices dropped sharply to the lowest level since June 2012, while output prices recorded an increase.
Goods producers continued to reduce their workforces in April, and the rate of job-shedding quickened modestly from the previous month.
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