Switzerland’s procure.ch–UBS Manufacturing PMI fell to 53.2 in July 2026 from 54.3 in the previous month, falling short of market expectations of 55. The reading marked the weakest level since February, as growth momentum softened across key components, with production expansion slowing to 54.2 from 57.0 in June and order books edging down to 53.2 from 53.5. Purchasing activity also weakened, with purchasing volumes falling into contraction territory at 48.1 from 50.9 and purchasing inventories declining to 47.5 from 50.4. Moreover, sales stocks (46.8 vs 48.1) and employment (47.7 vs 48.9) continued to deteriorate. Supplier delivery times lengthened further (62.9 vs 60.9), indicating rising delivery delays. On the price front, cost pressures intensified, with the index jumping to 74.2 in July, from 72.8 in the previous month.