The Swedish purchasing managers index (PMI) for the manufacturing sector fell to seasonally adjusted 50.7 in August from 55.4 in July unaudited.
Analysts’ average expectations were at 53.3 according SIX News compilation of analysts’ estimates. The range of expectations ranged between 52.0 and 54.0 with a median of 53.5.
“The main explanatory factors behind the case was sub-index for new orders and production both fell by 7.0 index points during the month . “writes Swedbank, which compiles the index together with Silf.
Export orders fell from 53.8 to 47.1, while new orders in the domestic market fell from 54.9 to 47.0.
the sub-index for employment continued to hover around the 50 mark, and fell in August from 50.5 to 49.7.
a number above 50 indicates the economy is expanding, while a number below 50 gives signals of decline.
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