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Financial News: Sweden Factory Growth At 22-Month Low

Sweden Factory Growth At 22-Month Low

07/02/2018 - 03:44:00 (RTTNews)

(RTTNews) - Sweden's manufacturing activity expanded at the weakest pace in nearly two years in June, survey results from Swedbank and the logistics association SLIF showed Monday.

The Purchasing Managers' Index, or PMI, for the manufacturing sector dropped to 54.2 in June from 55.8 in May. However, any reading above 50 indicates expansion in the sector.

The share index for order intake was the largest negative contribution to PMI total, followed by production and employment. Meanwhile, the component index for suppliers delivery times made a positive contribution.

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