Financial News: Swedish Factory Growth Eases In September

Swedish Factory Growth Eases In September

10/01/2024 - 08:02:00 (RTTNews)

(RTTNews) - Sweden's manufacturing sector growth moderated in September, survey data from Swedbank and the logistics association SILF showed on Tuesday.

The purchasing managers' index for the manufacturing sector dropped to 51.3 in September from 52.6 in August. However, a reading above 50 indicates expansion.

"It is becoming increasingly clear that Swedish industry is being pressured by a weaker global economy, and it is above all order intake that we see a clear slowdown during the autumn," Swedish bank analyst Jorgen Kennemar said.

Among components, the order intake sub-index accounted for the largest negative contribution to the PMI fall, followed by production and inventories. Nontheless, the decline was limited by the subindex for employment and suppliers' delivery times.

Price pressures in the Swedish business economy decreased in September amid falling raw material costs and a stronger krona. The corresponding index for suppliers' raw and input prices was noted in September at 48.6 from 50.8 in August, which is the lowest level since March.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

U.S. Producer Prices Unexpectedly Flat In September, Annual Growth Slows Modestly (15 min(s), 13 sec(s) ago)
(RTTNews) - With a decrease in prices for goods offsetting an increase in prices for services, the ...Full Story»

U.S. Producer Prices Unexpectedly Unchanged In September (02 hr(s), 0 min(s),13 sec(s) ago)
(RTTNews) - With a decrease in prices for goods offsetting an increase in prices for services, the ...Full Story»

India Industrial Output Shrinks 0.1% In August (02 hr(s), 03 min(s), 13 sec(s) ago)
(RTTNews) - India's industrial production declined slightly in August, largely led by weaker m ...Full Story»

Turkey Retail Sales Growth Strongest In 5 Months (04 hr(s), 57 min(s), 13 sec(s) ago)
(RTTNews) - Turkey's retail sales increased at the quickest pace in five months in August, the ...Full Story»

Romania Inflation Eases To 4.6%, Lowest In Over 3 Years (05 hr(s), 51 min(s), 13 sec(s) ago)
(RTTNews) - Romania's consumer price inflation moderated further in September to the lowest le ...Full Story»

UK Economy Returns To Growth (06 hr(s), 12 min(s), 13 sec(s) ago)
(RTTNews) - The UK economy returned to growth in August but the pace of expansion was weaker than ...Full Story»

Swiss Consumers Less Pessimistic In September (06 hr(s), 34 min(s), 13 sec(s) ago)
(RTTNews) - Confidence among Swiss consumers remained less negative in August, survey results from ...Full Story»

Dutch Exports Fall 2.1% In August (06 hr(s), 53 min(s), 13 sec(s) ago)
(RTTNews) - Exports in the Netherlands decreased in August after recovering in the previous month, ...Full Story»