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Falling Swedish Purchasing managers' index for July


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Monday, 01 August 2011
Swedish purchasing managers' index (PMI) for services fell to 50.1 in July from 52.9 in June, writes Swedbank said in a statement.

The fall of the PMI in June is therefore approaching the 50 mark, which is the lower limit of the growth zone. This indicates that Swedish industrial activity is no longer expanding, according to Swedbank which publish the figures

Production and new orders were similar to last month for the largest negative contributions to the decline of PMI. Sub index for new orders from both domestic and export markets are leaving the growth zone. Even companies delivery times contributed negatively.

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However, information from the summer months to be sure, should be interpreted with caution.
Sub-indices for industrial companies' production plans are still in the growth zone, although the decrease of the index from the previous month continued.

Industrial firms also indicated a growing employment needs. This means that companies see opportunities that come to increase employment and production, although not as much as before.
Price pressure in the crude and intermediate goods level fell sharply in July. Index levels of 51.5 signals a convenient cost location for business.
By Scancomark.se Team


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