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Financial News: Sweden Manufacturing Sector Maintains Strong Growth Moment

Sweden Manufacturing Sector Maintains Strong Growth Momentum

11/01/2017 - 04:08:00 (RTTNews)

(RTTNews) - Sweden's manufacturing growth remained robust in October despite easing from September, survey results from Swedbank and the logistics association SLIF showed Wednesday.

The Purchasing Managers' Index, or PMI, dropped to 59.4 in October from 63.7 in September. Economists had expected the index to fall slightly to 63.5.

However, any reading above 50 indicates expansion in the sector.

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

The share index for order intake contributed most to the decline in October, falling to 57.5 from 65.3 in September.

The sub-index for production also declined notably to 61.7 in October from 67.9 in the previous month.

The component index for employment slid by 2.2 points to 58.9 in October.

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