PMI rose to 63.7 in September – second highest level so far in 2017
• The PMI rose by 9.0 points to 63.7 in September, compared with 54.7 in August, the second highest level so far this year. The production index was the biggest contributor to increase, followed by new orders. Individual months should be interpreted with caution, however. A three-month moving average shows that the PMI rose by 0.5 points in September to 59.6.
• The sub-index for production rose by 14.4 points to 67.9 in September, positively contributing to the Purchasing Managers’ Index by 3.6 points. The sub-index for new orders increased by 11.4 points to 65.3, raising the PMI by 3.4 points.
• The sub-index for employment rose by 5.2 points, contributing 1.0 points to the PMI. The sub-index for suppliers’ delivery times also advanced, positively contributing 1.2 points. At the same time production plans were revised upward and the index reached 70.8.
• The index for prices of commodity and intermediate goods reached 66.8 in September, the highest reading since April.
The Purchasing Managers’ Index (PMI) is a business cycle indicator for the Swedish economy produced by Swedbank in cooperation with Silf. The PMI is produced for both the manufacturing and service sectors. The aim of the PMI is to get a quick measure of the current state of the economy. Each month purchasing managers are surveyed and an index calculated. An index level above 50 indicates expansion, while a level below 50 signals a contraction. The PMI for the manufacturing sector is published on the first banking day of each month at 8:30 am (CET), while the corresponding index for the service sector is published on the third banking day of each month at 8:30 am (CET).
Next publication of Purchasing Managers’ Index: Wednesday, 1 November 2017
For more information please contact: Jörgen Kennemar, Swedbank Makroanalys, phone 08- 700 98 04, firstname.lastname@example.org or Anna Sjöblom, Silf, phone 073 – 518 70 11, email@example.com