PMI climbs to 48.9 in December 2011 – a ray of light in an otherwise dismal outlook for industry

• The PMI increased from 47.6 in November to 48.9 in December. The industrial economy continues to contract, but the increase in the PMI shows that the rate of decline has leveled off somewhat.
• The production index had the most significant positive impact, followed by delivery times and employment. The index for new orders dropped marginally, primarily due to weaker demand from the home market.
• The index for industrial companies’ production plans rose significantly in December, but it is too early to tell whether this indicates a break in the trend since order backlogs continue to shrink and the global economy remains weak, which is clear from the low price pressure on commodity and intermediate goods prices.
• The employment index approached the 50 mark, but given the current weak demand scenario and that the labor market lags orders, we expect that the need for new hiring in industry will remain limited in the next few months.

Read the index here...

Mer information om indexet kan lämnas av Cecilia Hermansson, tfn 08-5859 7720, cecilia.hermansson@swedbank.se