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Financial News: Sweden Manufacturing Growth Remains Robust

Sweden Manufacturing Growth Remains Robust

03/01/2021 - 06:26:00 (RTTNews)

(RTTNews) - Sweden's manufacturing growth slowed for a second month in February, but the pace of expansion remained robust.

The manufacturing purchasing manager's index, or PMI, fell to 61.6 from 62.5 in January, survey data from Swedbank and the logistics association SILF showed Monday.

A reading above 50 suggests growth in the sector. The score remained well above its historical average of 54.5.

"Swedish manufacturing industry continues to show a high level of activity even though longer delivery times may be signs of supply constraints or disruptions in foreign trade that may in the long run limit growth in the industry," Swedbank analyst Jorgen Kennemar said.

New order growth was the lowest in six months in February. Production gains also slowed.

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