"The summer months are normally volatile and are affected by vacations and planned maintenance work. But seen over the last three months, the index has largely stood still after the increase in the spring. This indicates that the recovery in Swedish industry has lost momentum at the same time as the global growth prospects have weakened", says Jörgen Kennemar, responsible for the analysis of the purchasing managers' index at Swedbank, in the press release.
The purchasing managers' index, which measures the activity level in the sector, rises to 52.7 in August. In July, it was at 49.2. Analysts had on average expected an index of 50, according to Bloomberg.
An index value above 50 indicates increased activity in the sector, while a value below 50 indicates decreased activity.
The sub-index for incoming orders is pulling upwards the most, but production and delivery times are also pointing in the right direction. The sub-index for employment fell back, but is still in the growth zone for the third month in a row.
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