Sweden’s manufacturing growth improved in October, though slightly, data from the Swedbank and the Swedish National Association of Purchasing & Logistics revealed Monday.
The Purchasing Managers’ Index rose to 53.5 in October from 53.3 in the previous month. Any reading above 50 indicates expansion in the sector.
The slight improvement was mainly driven by rising delivery time and the increasing rate of production, the agency said.
The sub-index for production rose to 56.5 in October from 55.0 in September. The component index for supplier delivery times rose notably by 5.3 points to 50.7 in October.
At the same time, the index measuring new orders declined to 53.2 in October from 54.5 in the prior month. It was mainly export orders that were experienced get poorer while the domestic market shifted upward.
The employment sub-index came in at 53.4 in October, down from 55.5 a month earlier.
The material has been provided by InstaForex Company – www.instaforex.com