Sweden’s manufacturing activity expanded at the fastest pace in four months in November, data from the Swedbank and the Swedish National Association of Purchasing & Logistics revealed Tuesday.
The Purchasing Managers’ Index, or PMI, rose to 54.9 in November from 53.4 in the previous month. Any reading above 50 indicates expansion in the sector.
The sub-index for production made the largest contribution the headline index in November, with the index rising by 2.8 points to 59.3 from 56.5 in October.
The index measuring new orders also climbed to 54.2 in November from 53.2 in the preceding month, driven by strengthened demand from both domestic and foreign market.
Similarly, the component index for employment increased to 54.6 in November from 53.4 in the prior month.
The material has been provided by InstaForex Company – www.instaforex.com