SwedenLivingWorld world_2_fill WorldBusiness BusinessSports sports-soccer SportsEntertainmentEntertain

Industry picks up pace in August

The manufacturing industry in Sweden increases its activity level in August, according to a purchasing managers' index from Swedbank and Silf. "Slow recovery", they write in a press release.

» Updated: 02 September 2024, 08:40

» Published: 02 September 2024

Industry picks up pace in August
Photo: Björn Larsson Rosvall/TT

"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.

Tags
TTT
By TTThis article has been altered and translated by Sweden Herald

More news

One of the world's richest bribed in the USA
2 MIN READ

One of the world's richest bribed in the USA

This is how Musk will save billions
2 MIN READ

This is how Musk will save billions

Yet Another Extremely Strong Report from Nvidia
2 MIN READ

Yet Another Extremely Strong Report from Nvidia

Better than expected for Nvidia
1 MIN READ

Better than expected for Nvidia

Department store giant sinks on Wall Street
1 MIN READ

Department store giant sinks on Wall Street

The FI's Advice: Have Accounts in Multiple Banks
1 MIN READ

The FI's Advice: Have Accounts in Multiple Banks

Break in Trend - Household Costs No Longer Rising
2 MIN READ

Break in Trend - Household Costs No Longer Rising

4,000 to Leave the Car Giant
1 MIN READ

4,000 to Leave the Car Giant

The VW Union Takes a Stand Against Factory Closures
1 MIN READ

The VW Union Takes a Stand Against Factory Closures

Slovakian Nuclear Power Plant Plan Approved
1 MIN READ

Slovakian Nuclear Power Plant Plan Approved

Giant boost for Turkish minimum wages on the way
1 MIN READ

Giant boost for Turkish minimum wages on the way

6 MIN READ

Reduced risk of power crisis in winter
1 MIN READ

Reduced risk of power crisis in winter

Trump's Minister Paves the Way for Quick Tariff Decision
3 MIN READ

Trump's Minister Paves the Way for Quick Tariff Decision

Tough times for Chinese car giant
1 MIN READ

Tough times for Chinese car giant

Double rate cut of Icelandic interest rate
1 MIN READ

Double rate cut of Icelandic interest rate

Down on the stock exchange for the fourth day in a row
1 MIN READ

Down on the stock exchange for the fourth day in a row

The Gaming Company's Stock Soars - Confirms Purchase Inquiry
1 MIN READ

The Gaming Company's Stock Soars - Confirms Purchase Inquiry

Japan Sets Tourist Record - Attracts increasing number of tourists
1 MIN READ

Japan Sets Tourist Record - Attracts increasing number of tourists

Denmark's economy is picking up.
1 MIN READ

Denmark's economy is picking up.