The Swedish industrial cycle is losing momentum

The Swedish industrial cycle is losing momentum.

The Purchasing Managers' Index fell to 51.3 in September, from 52.6 in August, according to Swedbank and Silf. The monthly index is considered a good indicator of the industrial cycle in the manufacturing industry. An index above 50 indicates growth, and conversely.

"It is becoming increasingly clear that Swedish industry is being pressed by a weaker global industrial cycle and it is above all the order intake that we see a clear slowdown during the autumn", says Jörgen Kennemar, responsible for the analysis of the Purchasing Managers' Index at Swedbank, in a press release.

Economists had on average expected an index of 51.5 in September, according to Bloomberg's compilation