PMI rose to 55.2 in September: Manufacturing strength continues
• The PMI rose to 55.2 in September from 52.5 in August and means that the manufacturing sector remains in the growth zone, though at lower levels than at the beginning of 2018. The PMI has trended downward since the beginning of the year but stabilized in the third quarter.
• The biggest contribution to the increase in the PMI in September came from the sub-indexes for new orders, employment and suppliers’ delivery times. The sub-index for new orders rose to 56.6 and contributed 1.2 points to the increase in the PMI.
• The sub-indexes for suppliers’ delivery times and employment each contributed 0.7 points to the PMI after previously declining in August. The sub-index for production rose in September at the same time that production plans in the manufacturing sector were revised upward to 65.3, the highest level since February 2018.
• The index for prices of commodity and intermediate goods rebounded in September after declining in August and reached 67.5, compared with 65.8 in August.
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: Thursday, 1 November 2018
For more information: Jörgen Kennemar, Swedbank Public Affairs, phone 070- 643 83 29, email@example.com or Anna Sjöblom, Silf, phone 073 – 518 70 11, firstname.lastname@example.org