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Sweden’s manufacturing sector expanded at a softer pace in July, survey data from Swedbank and the logistics association SILF showed on Monday.

The purchasing managers’ index for the manufacturing sector fell to 65.3 in July from a revised 65.4 in June.

A PMI reading above 50 suggests growth in the manufacturing sector.

“The industry continues to show high activity, but the decline in PMI may be a sign that the growth rate in the industry will enter a calmer phase in the future when last year’s production loss is recovered while supply shortages and rising delivery times have become a growing challenge for industry,” Swedbank analyst Jorgen Kennemar said.

Among the sub-indices, stocks of purchased material declined in July, while the other four indices remained positive.

Planned production expanded in July to the second highest level this year.

Input goods prices rose to a record high in July.


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