Swedish PMI rose to 52.2 in August improving economic scene in the industrial sector
Monday, 02 September 2013
Swedish Purchaser Manager Index - the PMI rose by 0.9 index points to 52.2 in August, latest data show.
According to Swedbank which presents the data, the development of the constituent sub-indices were mixed, with three of the five indices rose during the month while the sub-index for warehouses and production contributed negatively to PMI.
This is the fourth consecutive month that the Swedish PMI remained in the growth zone, which indicates that the Swedish industrial sector is gradually stabilizing especially during the summer. An index of 50 means growth and an index below 50 mean recession.
The sub-index for new orders and employment accounted for the largest positive contribution, 0.7 index points each, to the rise of the PMI. Orders from the export market rose while it slowed in the domestic market. The improved order intake also gave a positive impression in the corporate order books.
by Scancomark.com Team