Purhasing MAnagers' Index (PMI) is one of Sweden's fastest and most reliable leading economic indicator and it is produced monthly by Swedbank's Economic Research Department and SILF - an purchasing and logistics organisation. The PMI is produced both for the manufacturing industry and for the services sector.
1. Purchasing Managers’ Index – Services February 3, 2012
Services PMI rises to 54.3 in January: business conditions
in the service sector are improving
In January 2012 the purchasing managers’ index for services (Services PMI) rose
by 3.3 points to 54.3, up from 51.0 in December. This is the largest increase since
July 2010. This indicates that the downturn that service companies experienced in
the fall has turned around and a recovery is under way, although figures for a single
month should be interpreted with some caution.
All of the Services PMI’s component indices rose in January. New orders made the
largest positive contribution to the rise in the PMI, followed by business activity,
employment and supplier delivery times. Order backlogs also rose and are now
back in the growth zone, after remaining beneath the 50 mark for five consecutive
months.
Business plans for the next half year have been revised upward, indicating that
companies have become more optimistic about the economic outlook. The improved
order scenario is yet another contributing factor to the more expansive plans.
The index for supplier intermediate goods prices rose from 54.3 in December to 55.0
in January, signaling that service companies are experiencing a modest cost
increase.
Next publication of Services PMI: Monday March 5, 2012 Services PMI
(Purchasing Managers’
75 Index - Services)
Purchasing Managers' Index - Services
Seasonally adjusted
70
2012 Jan. 54.3
65 Dec. 51.0
Nov. 48.9
60 Oct. 49.0
Sep. 51.1
55 Aug. 53.5
Jul. 54.1
50
Jun. 53.3
May 56.4
45
Seasonally Adjusted Apr. 60.8
40
Original Mar. 60.8
Feb. 62.0
35 2011 Jan. 65.0
30
05 06 07 08 09 10 11
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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