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Bright lights in the Swedish industry as PMI index shift to growth zone

Wednesday, 01 February 2012
The Swedish industrial sector is looking to start expanding again as in January, the purchasing managers' index for the first time in six months turn out in the so called growth zone. One important driver for that has been attributed to improved order intake.

The Purchasing managers' index for the Swedish manufacturing sector rose in January to 51.4 from 48.9 in December.
"The new year started in an impressive way such that manufacturing is no longer shrinking as would have thought,” writes  Swedbank and Silf trade association, which publishes the index.

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In what the Swedband and SIF described as “a friendlier economic winds in the industrial sector”, show the index standing at  51.4 points  in which 50 represent the boundary between contraction and expansion, and July was the last month that such positivity was seen in the sector.

The largest contributions to this rise came from the sub-indices of new orders and production.
"Sub-index on new orders increased throughout the five index points to 52.0 in January from 47.0 in December.

Purchasing managers report that it is mainly in the domestic market that the new orders improved. Autumn uncertain situation may have meant that many companies have been hesitant, but that declining inventory levels now made it necessary to again increase orders, "writes Swedbank and Silf.

Sub-index of production rose nearly four points to 52.9 and also the index of order books found their way over the 50 point mark and landed on 50.6. Manufacturing companies, however, remains cautious about employment plans. Sub-index on employment fell to 48.0 from 49.5 in December.
"It may indicate that companies are still unsure of the business cycle, "wrote Swedbank and Silf.
By Scancomark.se Team




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