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Purchasing Managers' Index March 2012
1. Purchasing Managers’ Index April 2, 2012
PMI drops to 50.2 in March – no clear recovery yet for
Swedish industry
The PMI dropped marginally from 50.3 in February to 50.2 in March. The index
level is thus hovering around the 50 mark – the boundary between economic
growth and contraction – for the second consecutive month. Though the
recovery in the PMI has slowed down, the industrial economy continues to grow,
which is clear from the 1.9 point increase in the PMI from the final quarter of
2011 to the first quarter of 2012.
The component index for production contributed most to the drop in the PMI,
followed by supplier delivery times. Meanwhile, the indices for new orders,
employment, and inventories all made positive contributions.
Industrial companies’ production plans for the next six months remain
expansive, despite a minor downshift in March compared to the previous month.
The index for commodity and intermediate goods prices climbed for the third
consecutive month, reaching 55.3 in March, which indicates rising price pressure
from producers. That said, this is significantly lower than what we saw one year
ago, when the index was above the 70 mark for four consecutive months.
75
Purchasing Managers' Index
70 PMI
(Purchasing Managers’
65
Index)
60 Seasonally adjusted
2012 Mar. 50.2
55
Feb. 50.3
50
Jan. 51.4
2011 Dec. 48.9
45 Nov. 47.6
Oct. 49.8
40
Unadjusted Sep. 48.1
Seasonally adjusted Aug. 48.7
35
Jul. 50.1
30 Jun. 52.9
May 56.1
25 Apr. 59.8
94 95 96 97 98 99 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 11 12 Mar. 58.6
Next publication of Purchasing Managers’ Index: Wednesday, May 2, 2012
apr 64,0
Jörgen Kennemar, Swedbank, Economic Research Department, +46 (0)8-5859 7730
Administration, +46 (0)8-5859 7740, ek.sekr@swedbank.se
Sebastian Bergfelt, Silf, +46 (0)73-944 6450, professionals@silf.se
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