Swedish Manufacturing Growth Strongest In Over 4 Years

(RTTNews) - Sweden's industrial activity expanded at the quickest pace in over four years in April despite an uncertain environment, survey data from Swedbank and the logistics association SILF showed on Monday.

The purchasing managers' index for the manufacturing sector rose to 57.2 in April from 56.2 in March. A reading above 50 indicates expansion, and the latest PMI reading was the highest since February 2022.

"Disruptions in supply chains and rising raw material prices caused by developments in the Middle East are challenging but are not yet reflected in companies' production plans," Swedbank analyst Jorgen Kennermar said.

Among components, sub-indexes for order intake and delivery times contributed positively, while inventory purchases, employment, and production dragged the index down in April.

Inflationary pressures intensified significantly in April, with the index for suppliers' raw and input prices rising by 11.5 index points to 81.3 compared to March.