Manufacture of bearings, SKF’s factory in Gothenburg. Photo: Björn Larsson Rosvall / TT
“The decline was driven by lower index for new orders and production, which still remained in the growth zone of the margin,” writes Swedbank and Silf, which takes forward purchasing managers’ index, in a press release.
“The industrial economy has started the year positively with a steady growth rate, rising demand and optimistic production plans. This contrasts, however, falling commodity and intermediate goods prices,” writes Swedbank and Silf.
The sub-index for commodities and intermediate fell from 42.7 to 40.6.
“Again, the decline was broad and a three-month moving average gives as yet no sign the rising cost pressures, “writes Swedbank and Silf.
They add that hiring demand continues to rise. · In January, the subindex for employment 54.7, a rise of 1.5 index points from December.
The Purchasing Managers’ Index is based on interviews with about 200 purchasing managers in the manufacturing industry. An index figure above 50 is considered to indicate growth in the industry.
