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Swedish PMI fell to 47.6 in November 2011Thursday, 01 December 2011
Swedish Purchasers Managers Index, PMI fell to 47.6 in November from 49.8 in October, meaning a persistent continuous decline in the Swedish manufacturing activity which was a strengthened in the past month after a minor stabilization in October.
All sub-indices of the PMI fell in November, where the largest negative contribution came from orders and especially from the domestic market, reports Swedbank that produce the data.
AdvertisementThe weaker demand situation contributed to the index as production and delivery times fell to the year's lowest levels. This also made a lasting impact in industrial employment, which fell below the 50 point mark for the first time in years.
Sub-index for industrial or manufacturing production plans in November reached its lowest level for two years, partly because of the deteriorating order situation and the uncertain global economy. It increases the likelihood that the number of new employees in the manufacturing sector will be limited during the next few months.
Price pressure from producer prices remain contained, although the index for crude and intermediate goods prices rose to 42.6 in November from 39.9 in October. A weaker world economy and falling global commodity prices contributing to the lower pressure.
By Scancomark.se Team
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