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Financial News: Sweden Manufacturing Growth Eases In October

Sweden Manufacturing Growth Eases In October

11/01/2021 - 11:25:00 (RTTNews)

(RTTNews) - Sweden's manufacturing expansion eased in October, yet remained robust, survey data from Swedbank and the logistics association SILF showed on Monday.

The purchasing managers' index for the manufacturing sector fell to 64.4 in October from 64.7 in September.

The latest reading increased for the fifteenth month in a row. A PMI reading above 50 suggests growth in the manufacturing sector.

"Swedish industry seems to have withstood an increased shortage of inputs and disruptions in global delivery flows well and shows a higher level of activity in October compared to the Eurozone where PMI has reached the lowest level since last winter," Swedbank analyst Jorgen Kennemar said.

Among the sub-indexes, production, inventory purchases and delivery time decreased, while employment increased.

Cost pressure increased in October. Suppliers' raw material and intermediate goods tocks rose to a new record high.

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