SMEs in good shape despite economic situation

An industrial warehouse.

(22.06.2022) Morale among small and medium-sized companies is high. Raiffeisen Bank's PMI-SME index, which surveys nearly 200 purchasing managers in Switzerland, remained at 59.1 in May, the same level as the previous month.

The stabilization of the overall PMI-SME index comes after three consecutive months of increases. However, it is a sign that Swiss industrial SMEs are resisting economic pressure.

The "production" component actually jumped by 4.8 points, from 56.7 to 61.5, its highest level since September 2021. This increase is reflected in employment, whose sub-indicator has risen by 2.3 points, from 55.1 to 57.4. Nevertheless, the SMEs surveyed emphasized the difficulties they face in hiring qualified personnel.

According to the bank, Switzerland's SMEs were able to cope with supply problems and rising material prices thanks to their stockpiling of preliminary products. Inventory of goods also saw a 2.3-point increase in its sub-indicator. Within a month, it rose from 54.4 to 56.7.

Order books and delivery times posed more problems for companies in May. Their components fell significantly: by 4.1 points for order books (from 60.9 to 56.8) and by 4.8 points for delivery times (from 68.1 to 63.3). In both cases, however, they remain above the growth threshold of 50.


Last modification 22.06.2022

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