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Financial News: Sweden Factory Growth Eases In March

Sweden Factory Growth Eases In March

04/03/2018 - 03:35:00 (RTTNews)

(RTTNews) - Sweden's manufacturing activity continued to expand strongly in March, though the rate of growth eased since February, survey results from Swedbank and the logistics association SLIF showed Tuesday.

The Purchasing Managers' Index, or PMI, for the manufacturing sector dropped to 55.9 from 59.9 in February. However, any reading above 50 indicates expansion in the sector.

The sub-index for new orders declined to 57.3 in March from 61.4 in the previous month. Similarly, the component index for production fell from 62.5 to 56.4.

The employment index dipped by 6.0 index points to 52.3 in March, which was the lowest level since September 2016.

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