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Financial News: Sweden Manufacturing Growth At 2-Year Low

Sweden Manufacturing Growth At 2-Year Low

09/03/2018 - 03:27:00 (RTTNews)

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

The Purchasing Managers' Index, or PMI, for the manufacturing sector dropped to 52.5 in August from 57.4 in July. However, any reading above 50 indicates expansion in the sector.

Moreover, this was the lowest score since August 2016, when it marked 51.2

The share index for production declined to 52.2 in August from 59.7 in the prior month. Similarly, the sub-index for new orders slid to 52.5 from 57.6.

The sub-indices for employment and delivery times also contributed negatively to PMI total in August.

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