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Financial News: Sweden Manufacturing Growth Rises In May

Sweden Manufacturing Growth Rises In May

06/03/2019 - 06:58:00 (RTTNews)

(RTTNews) - Sweden manufacturing growth rose to the highest level in six months in May, driven by robust order intake and improvement in purchases in stocks in employment, survey data from Swedbank and the logistics association SILF showed on Monday.

The purchasing Managers' Index, or PMI, for manufacturing rose to 53.1 in May from 50.9 in April.

Any reading above 50 indicates an expansion in the sector.

Suppliers' raw and input price inflation rose marginally in May.

The downward trend in PMI is broken and suggests that Swedish industrial activity is stabilizing with the support of a weak krona despite an uncertain global economy, Jorgen Kennemar at Swedbank, said.

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