Sweden’s manufacturing sector expanded for the second straight month in August, survey data from Swedbank and the logistics association SILF showed on Tuesday.
The Purchasing Managers’ Index for the manufacturing sector increased to 53.4 in August from revised 51.4 in July. Any reading above 50 indicates expansion in the sector.
The latest reading was the highest since the fourth quarter of 2018.
“Even if the spring fall in PMI has recovered, it does not mean that the industry is back to the production levels before the corona pandemic,” Swedbank analyst Jorgen Kennemar said.
The sub-index for order intake and employment grew in August. Suppliers’ delivery time lengthened and production increased at a softer pace.
Production plans were more expensive in August to the highest level since over a year ago.
Prices for raw material and intermediate goods prices signaled a weak price pressure in August.
“Low resource utilization and a stronger krona tend to dampen price pressures in the near future,” Kennemar said.
For comments and feedback contact: editorial@rttnews.com
[Economic News][1]
What parts of the world are seeing the best (and worst) economic performances lately? Click[here][2] to check out our [Econ Scorecard][2] and find out! See up-to-the-moment rankings for the best and worst performers in [GDP][3], [unemployment rate][4], [inflation][5] and much more.
- www.rttnews.com/Content/EconomicNews.aspx
- www.rttnews.com/economic-scorecard/world-rank/PPI/highest-performance.aspx
- www.rttnews.com/economic-scorecard/world-rank/GDP/highest-performance.aspx
- www.rttnews.com/economic-scorecard/world-rank/unemployment-rate/lowest-performance.aspx
- www.rttnews.com/economic-scorecard/world-rank/CPI/highest-performance.aspx