Financial News: Sweden Manufacturing Activity Expands Further

Sweden Manufacturing Activity Expands Further

12/02/2024 - 04:01:00 (RTTNews)

(RTTNews) - Sweden's manufacturing sector continued to expand strongly for the fourth straight month in November, survey data from Swedbank and the logistics association SILF showed on Monday.

The purchasing managers' index for the manufacturing sector rose to 53.8 in November from 53.2 in October. A reading above 50 indicates expansion.

"The temperature in Swedish industry has increased during the fourth quarter and is now at index levels that have not been noted for over two years, even though the risk of increased tariffs and a weak global economy can put a damper on the wheel," Swedish bank analyst Jorgen Kennemar said.

Among components, the manufacturing sub-index accounted for the largest positive contribution, followed by order intake, while delivery times and employment declined and made a negative contribution.

Price pressures intensified in November, as the raw material and input supplier price index rose to 55.5 in November from 47.9 in October, the highest level in four months.

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