Swedish Factory Growth Accelerates In September

(RTTNews) - Sweden's industrial economy expanded at the fastest pace in three months in September, survey data from Swedbank and the logistics association SILF showed on Thursday. The purchasing managers' index for the manufacturing sector rose to 58.1 in September 56.3 in August. A reading above 50 indicates expansion and is still above its historical average for the fifteenth consecutive month.

Among components, the increase in new orders made the largest positive contribution to the PMI total, followed by longer delivery times and higher production, while the employment index held back the recovery.

"The September outcome shows a clear strengthening in Swedish industry, supported by a brighter global economy," Swedbank analyst Jorgen Kennemar, said.

Price pressures intensified in September, with the index for suppliers' raw and input prices rising to 77.6 in September from 75.7 in August.