Sweden Manufacturing Sector Expands For First Time Since August

By | February 3, 2020
InstaForex
Sweden Manufacturing Sector Expands For First Time Since August

Sweden’s manufacturing sector expanded for the first time in five months in January, survey data from Swedbank and the logistics association SILF showed on Monday.

The manufacturing purchasing managers’ index, or PMI, increased to 51.5 in January from 47.7 in December. Any reading above 50 indicates an expansion in the sector.

Signs of a recovery in industry have increased during the start of 2020, although a single monthly outcome is not to be interpreted, Swedbank analyst Jorgen Kennemar said.

Among the sub-indexes, those for order intake and production increased. The measures for employment and delivery times rose in January, but remained below the score of 50.

Manufacturing companies’ production plans rose for the third straight month. Suppliers’ raw and input commodity prices fell for the fifth month in a row.