Purchasing Managers´ Index April 2011
PMI climbs to 59.8 in April 2011 – new orders support the industrial economy
- The total PMI rose by 1.2 points to 59.8 in April, compared to 58.6 in March. This means that the Swedish industrial economy took off again after have lost a bit of momentum in the previous two months.
- New orders, from both the export and home markets, made up the largest contribution to the rise in the total PMI. The component index for production also rose, albeit not as much.
- Other component indices declined. The rate of expansion of employment and delivery times continued to moderate, while inventory buildup by industrial companies was the greatest negative contributor to the purchasing managers’ index. Swedish companies’ production plans, which have been revised downward, signal continued expansion in Swedish industrial production albeit at a somewhat slower pace.
- Rising global commodity prices contributed to a rise in the index for supplier commodity and intermediate goods prices in April after a decline in March.