Sweden Factory Growth Eases In November

(RTTNews) - Sweden's manufacturing sector continued to expand in November, though the pace of growth eased somewhat since October, survey data from Swedbank and the logistics association SILF showed on Monday.

The purchasing managers' index for the manufacturing sector dropped to 54.6 in November from 55.0 in October. However, a reading above 50 indicates expansion, and the index is still above its historical average of 54.3.

Among components, the sub-index for production accounted for the largest negative contribution to the decline in the PMI total, followed by delivery times, while the sub-indexes for order intake and employment increased.

On the price front, the index for suppliers' raw and input prices rose to 53.4 in November from 52.5 in September. Despite an increase, the index continued to show subdued price pressure in industry, driven by the strengthening of the krona and moderate increases in raw material prices.