Friday, 01 February 2013
The Swedish purchasing managers' index rose in January significantly
and unexpectedly. The increase is the largest since the summer of 2009.
The purchasing managers' index for the Swedish industry rose to 49.2 in
January from 44.6 in December. Expected, was a rise to 46.2, according
"The sharp rise in the index means that the Swedish industrial market
has stabilized after last year's decline, "writes Swedbank and Silf
industry organization that publishes the index, in the report.
The rise is cheered in spite the PMI remaining below the 50 mark, which
is supposed to be the boundary between contraction and growth.
"Even if the index is outside the growth zone, it is a clear indication
that the Swedish industrial market has improved compared to last year's
final months. However, it is too early to determine if there is a
turnaround in the economy so the next month will be crucial for any
economy, "writes Swedbank and Silf.
All five sub-indices rose in January. New orders and production
accounted for the largest positive contributions to the overall PMI
rise, but it was only the sub-indices for production and delivery times
that were in the growth zone. Employment in the industry continued to
decline, although the index rose marginally.
by Scancomark.com Team
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