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Sweden's PMI fell to 44.7 in September signifying continuous decline in the industrial productivity

Monday, 01 October 2012
Sweden purchasers' managers' index, or the PMI total fell to 44.7 in September from 45.1 in August, signifying that the index fell outside the growth zone for the second consecutive month.

The publisher of the index, Swanbank report that the sector's resistance to the weak global economy has deteriorated further.

Production and employment sub indices also went down PMI while positive contributions came from new orders, inventories, and delivery times.

Industrial companies' production plans were revised down and reached 47.8 in September, its lowest level since May 2009. Weak orders and lower order books are reducing companies 'expansion plans that also have an impact on companies' hiring needs, writes Swedbank in a press release announcing the fall in the PMI.

PMI is based on interviews of about 200 purchasing managers in the manufacturing industry. An index above 50 is considered to indicate growth in the industrial sector.
by Scancomark.com Team

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