The Purchasing Managers' Index dropped to 60.2 in December from 61.3 in November. This was the lowest reading since December 2009. A PMI reading above 50 signals expansion of the sector.
Though there was a slight fall in the PMI level, the reading indicated that the manufacturing sector continued its expansion during the month, though at a slower pace.
The index for production fell to 62.8 from 64.2 in November. Companies' production plans in the next six months improved from the previous month with the corresponding index rising to 74 from 72.5.
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Swedish Manufacturing Activity Eases To One-Year Low
(RTTNews) - Sweden's manufacturing sector growth slowed in December as growth in production and employment eased, a survey by Swedbank and Swedish National Association of Purchasing and Logistics showed Monday.
The Purchasing Managers' Index dropped to 60.2 in December from 61.3 in November. This was the lowest reading since December 2009. A PMI reading above 50 signals expansion of the sector.
Though there was a slight fall in the PMI level, the reading indicated that the manufacturing sector continued its expansion during the month, though at a slower pace.
The index for production fell to 62.8 from 64.2 in November. Companies' production plans in the next six months improved from the previous month with the corresponding index rising to 74 from 72.5.
On the other hand, the index for new orders rose to 63.6 from 60.4 in November. There was a marked improvement in orders from the domestic market, though new export orders also contributed to the rise in the index.
Swedish companies reported a decrease in staff levels following an increase the previous month. The relevant index fell to 57.1 from 60.2 in November.
Prices of raw materials and intermediate goods increased in December, but to a lesser extent than in November. Global economic recovery and higher commodity prices triggered higher price pressures on the supply side. The price index advanced to 71.9 in December from 70.8 in November.
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