Swedish Factory Growth Quickens In September

(RTTNews) - Sweden's manufacturing sector expanded at the fastest pace in three-and-half years in September, survey data from Swedbank and the logistics association SILF showed on Wednesday.

The purchasing managers' index for the manufacturing sector rose to 55.6 in September from 55.3 in August. A reading above 50 indicates expansion. Further, this was the highest growth since March 2022.

Among components, the employment sub-index accounted for the largest positive contribution to the PMI total, followed by new orders and purchased inventories, while production and delivery times dragged the index down.

On the price front, the index for suppliers' raw and input prices rose to 51.0 in September from 50.9 in August. This indicates continued subdued price pressure in the industry driven by the strengthening of the krona and moderate increases in raw material prices.