The Swiss manufacturing PMI unexpectedly surged to 53.3 in March, far exceeding expectations, marking the first expansion in over three years

Even as the conflict in the Middle East continues, according to procure.ch, Switzerland's manufacturing PMI unexpectedly strengthened in March, soaring from the previous value of 47.4 to 53.3, far exceeding market expectations of a drop to 47, marking the first return to expansion in over three years.

The production level index rose by 3.6 points to 50.6. The manufacturing orders index also surged by 7.3 points to 54.2. However, under the rapid rise in input cost inflation, procurement prices were pushed higher, increasing by 15.5 points to 71.3. The supplier delivery time index also rose by 10.2 points to 63.6.

If the conflict in Iran continues and spills over, Switzerland's manufacturing PMI may decline in April. Procure also expresses doubts about the sustainability of the rebound