The Swiss procure.ch and UBS PMI rose slightly to 49.0 in August 2025 from 48.8 in July, but remained below the growth threshold of 50 for the 32nd consecutive month. The modest improvement was supported by gains in production (up 5.8 points to 55.4), order books (up 1.3 points to 45.2), purchasing prices (up 4 points to 54.7), and sales stocks (up 1.1 points to 49.8). However, other components weighed on momentum, with employment dropping 2.4 points to 46.4 and delivery times falling 7.9 points to 51.4. Purchasing volumes also slipped 1.1 points to 42.0, reflecting ongoing weakness in demand. Procure.ch and UBS noted that sentiment among manufacturers stayed largely stable over the summer months, while high tariffs on Swiss exports and other recent global developments had little effect on overall business confidence.