Det svenske PMI-indeks for industriproduktionen styrtdykkede i april og nåede det laveste niveau siden 2009, til 36,7 mod 42,6 i marts. Ordreindgangen er helt i bund, og desuden viser et underindeks for leveringstider, at der er meget store problemer med supply chain. Situationen er altså værre, end hovdtallene viser.
Uddrag fra Nordea:
Sweden Macro Review: Awful PMI report
The manufacturing PMI declined in April to the lowest level since 2009. However, the report is even worse than the headline figure suggests.
The manufacturing PMI stood at 36.7 in April, down from 42.6 in March.
The survey was done 14 April – 24 April.
Several sub-indices stood at the lowest levels ever in April. For instance, order intake plummeted to the record low of 25.2. The index for export orders was even worse at a mere 21.7, illustrating the standstill in the global demand.
The sub-index for delivery times continues to distort the headline index as it rose further in April to 67.0, lifting the PMI. The longer delivery times are due to supply chain problems, rather than capacity restrictions. Thus, details are much worse than the headline PMI suggests.
All in all, PMI plummeted in April roughly as feared and in line with indicators elsewhere. The only good news in this mess is that some key indices such as order intake can’t drop much more.
Details, April:
PMI: 36.7 (prior 42.6)
Order intake: 25.2 (prior 33.8)
Export orders: 21.7 (prior 34.5)
Production: 26.6 (prior 35.9)
Employment: 40.4 (prior 45.3)
Inventories: 56.7 (prior 49.9)
Production plans 6 months ahead: 25.0 (prior 32.7)
