Depression starts affecting Swedish export managers


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Thursday, 25 August 2011
The Swedish trade Council's recent export managers' index, which was presented on Thursday, landed at 52.1. It is the lowest outcome since the second quarter of 2009. In the previous survey in May the index was at 63.9.

The forward-looking sub-index fell to 47.5, which means that it is currently holding up the overall index. More export managers still expect that sales will increase, but the proportion who believes in deterioration has increased.


“52 is not a good value, but it's not a disaster. In contrast, future expectations reflect a decent blow,” says Mauro Gozzo, chief economist at the Swedish Export Council.

The future is about how companies think that the situation looks like in three months. In May, the sub-index stood at 66.4, now it's down to 47.5.

However, authorities here also make it cleat that it does not mean that we are entering a global recession.
“One sees clearly that the demand is cooling in some places. It is a sign of a touchdown in the economy. It is not the same as there is a recession, but it may be that it is in between: short-term declines in gains,” says Gozzo.

Swedish export manager index bottomed out during the fourth quarter 2008 and first quarter of 2009 with an index of 34.3.
By Team

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