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Financial News: Sweden Manufacturing Sector Maintains Strong Growth Moment

Sweden Manufacturing Sector Maintains Strong Growth Momentum

01/02/2018 - 02:57:00 (RTTNews)

(RTTNews) - Sweden's manufacturing activity continued to expand strongly in December, though the rate of growth eased since November, survey results from Swedbank and the logistics association SLIF showed Tuesday.

The Purchasing Managers' Index, or PMI, for the manufacturing sector dropped to 60.4 in December from 63.3 in November. However, any reading above 50 indicates expansion in the sector.

The sub-index for production fell to 62.3 in December from 64.8 in the previous month. Similarly, new business index slid to 62.6 from 64.9.

Employment recorded the largest negative contribution, with the corresponding index falling to 56.0 from 62.5.

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