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Swedish PMI rose to 51.9 in May showing a slightly improved manufacturing activity for the second half

Monday, 03 June 2013
The Swedish purchasers' manager's index, the PMI rose by 2.3 index points to 51.9 in May from 49.6 in April. The increase was broad and four of the five sub-indices made a positive contribution to PMI during the month.

According to Swedbank and Silf, which produces the purchasing managers' index, in a press release, based on interviews with about 200 purchasing managers in the manufacturing industry. An index above 50 is considered to indicate growth in the industry.

Orders accounted for the largest contribution to the PMI, and explains more than half of the increase. The recovery in new orders was primarily due to improved orders from the domestic market, where the index rose to 51.3 in May from 46.7 in April. Orders from the export market slowed slightly but remained above the 50 mark, 50.8, compared with 51.8 in April. The sub-index for backlog noted to 48.2 in May from 49.3 in April.

Index of production plans rose to 59.1 in May from 55.9 in April. The index indicates thus a growing production over the next six months and the rise indicates a slightly better underlying strength for the summer and the second half.

The sub-index for production rose to 55.2 in May from 52.8 in April. Employment Index rose by nearly 4 index points to 46.3 but still remains below the 50 line, suggesting that companies are still cautious with hiring.

by Scancomark.com Team

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