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Financial News: Sweden Manufacturing Growth Quickens In March

Sweden Manufacturing Growth Quickens In March

04/03/2017 - 03:41:00 (RTTNews)

(RTTNews) - Sweden's manufacturing growth accelerated sharply in March, largely driven by stronger rises in output and new orders, survey results from Swedbank and the logistics association SLIF showed Monday.

The Purchasing Managers' Index, or PMI, climbed to 65.2 in March from 62.1 in February. Any reading above 50 indicates expansion in the sector.

All sub-components contributed positively to the headline index in March.

The sub-index for new orders rose by 6.4 points to 68.6 in March from 62.2 in February. This was the highest level since 2006 and reflected the increased demand, both from domestic and export markets.

Output also grew at an accelerated pace in March, with the index rising to 68.4 from 64.0 in the prior month. Similarly, the component index for employment climbed to 63.4 from 59.2.

The sub-index for supplier delivery times picked up by 1.6 points to 63.6 in March.

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