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Financial News: Sweden Manufacturing Growth Quickens In November

Sweden Manufacturing Growth Quickens In November

12/01/2017 - 03:21:00 (RTTNews)

(RTTNews) - Sweden's manufacturing growth improved notably in November, driven by solid rises in output and new orders, survey results from Swedbank and the logistics association SLIF showed Friday.

The Purchasing Managers' Index, or PMI, for the manufacturing sector climbed to 63.3 in November from 59.3 in October. Any reading above 50 indicates expansion in the sector.

Furthermore, the latest index figure signaled the third highest level so far this year.

The sub-index for new orders increased the most by 7.4 points to 64.9 in November from 57.5 in October.

The index measuring production strengthened from 61.7 to 64.9 and the employment index rose to 62.5 from 58.9.

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