Swedish Industrial Economy Grows at Fastest Pace in Three Months
Sweden's manufacturing sector expanded rapidly in September driven by new orders and higher production, according to data from Swedbank and SILF.
The industrial economy of Sweden expanded at its fastest pace in three months during September. According to survey data released by Swedbank and the logistics association SILF, the manufacturing sector's purchasing managers' index rose to 58.1 from 56.3 in August.
This growth marks the fifteenth consecutive month the index has remained above its historical average. The expansion was primarily driven by an increase in new orders, higher production levels, and longer delivery times. However, the overall recovery was partially hindered by the employment index.
Price pressures intensified during the period, with the index for suppliers' raw and input prices increasing to 77.6 from 75.7 in August. Jorgen Kennemar of Swedbank stated that the September outcome shows a "clear strengthening in Swedish industry, supported by a brighter global economy."
