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Sweden's PM for December remains at a deteriorated level - 44.6

Wednesday, 02 January 2013
The purchasing managers' index for the Swedish industrial sector rose to 44.6 in December from 43.2 months before. Corresponding month last year, the purchasing managers index was 48.9.

This means that the perpetual fall in activities of the Swedish industrial sector has slowed down as described by Swedbank which publish the figures that "the deterioration in manufacturing activity has slowed".

Analysts had expected then PMI to rise to 44.4 in December. But the PMI total rose and surpassed that to 44.6 in December from 43.2 in November. This was the second consecutive month that the index rose, but still showing that activities in the manufacturing sector was shrinking significantly. However, more months are required to establish the proper grounds and the state of affairs the whole situation.

All sub-indices contributed to the rise in the PMI in total. The largest contribution was response on production, followed by new orders and employment. Orders situation however, remained tight, especially in the domestic market, and the index of order backlogs fell to 39.8.

Positive is that sub-index of employment rose, although the level is still signalling layoffs in the industrial sectors. It is also positive that the index of planned production rose for the second month in a row, and have approached the 50 mark.

Suppliers of raw and intermediate goods prices rose to the highest level (48.7) since April. The global inflationary pressures continue to slow, but not to the same extent as in the past months.

The index is a compilation of about 200 purchasing managers' assessment of the economic development and published by the organisations Swedbank, a bank, and Silf, which purchasing and logistics representative.
By Scancomark.com Team

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