Purchasing Managers´Index June 2011
PMI sinks to 52.9 in June 2011 – Swedish industry cools as the global economy slows down
- The PMI dropped 3.2 points from 56.1 in May to 52.9 in June, reaching its lowest level since the summer of 2009. The Swedish industrial economy is thus growing at a significantly slower pace than in Q1 2011, during which the PMI index hovered around the 60 mark.
- Production and new orders contributed most to the drop in the PMI, followed by employment and company delivery times. Meanwhile, a decrease in inventories contributed positively to the PMI.
- Industrial companies’ production plans for the next six months have been revised downward for the third consecutive month, but the corresponding index remains at the upper end of the growth zone.
- The slowdown in the industrial economy and falling global commodity prices have caused producer prices to increase at a lower rate. The index for suppliers’ commodity and intermediate goods prices dropped from 63.5 in May to 60.5 in June.