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Financial News: Sweden Factory Growth Eases Unexpectedly In January

Sweden Factory Growth Eases Unexpectedly In January

02/01/2018 - 02:54:00 (RTTNews)

(RTTNews) - Sweden's manufacturing growth moderated unexpectedly at the start of the year, but remained robust, survey results from Swedbank and the logistics association SLIF showed Thursday.

The Purchasing Managers' Index, or PMI, for the manufacturing sector dropped to 57.0 in January from 60.4 in December. Meanwhile, economists had expected the index to rise to 61.0.

Despite this decline, the index remained at a high level. Any reading above 50 indicates expansion in the sector.

The sub-index for new orders marked the biggest negative contribution to the headline index, falling to 54.8 in January from 62.6 in December.

The share index for production fell to 58.9 from 62.3, while the component index for employment rose to 57.3 from 56.0.

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