Swedish PMI shot up September indicating a stable industrial climate
Tuesday, 01 October 2013
The Swedish purchasing managers index (PMI) rose by 3.8 index points to 56.0 in September, and all constituent sub-indices contributed to the rise.
The index, which reflects the feelings in the Swedish industrial sector, based on a compilation of about 200 purchasing managers' rose to 56.0 in September from 52.2 months before. The corresponding month last year, the index was 44.7, reports Swedbank and Silf, the organization that represent the purchasing and logistics sector in Sweden.
This is a huge jump in the Swedish industrial production expectation, something analysts had not expected. Analysts had forecast had expected the PMI to rise to 52.5 in September.
The sub-index for new orders and production accounted for the largest positive contributions of the rise. Orders rose from both the export and domestic market, with 5.2 and 6.4 index points. The improved order intake also gave a positive impression in the sub-index for the stock of orders, which rose by 5.1 index unit to 55.9.
The sub-index for employment rose above 50, while the sub-index for delivery times increased slightly and was quoted in the growth zone for the second consecutive month. Index of stocks fell 1 index unit, thus contributing positively to the overall PMI.
By Scancomark.com Team