Sweden’s manufacturing sector expanded at the fastest pace in four months in March, survey data from Swedbank and the logistics association SILF showed on Tuesday.
The purchasing managers’ index for the manufacturing sector rose to 53.6 in March from 53.5 in February. A reading above 50 indicates expansion.
Among components, the production sub-index accounted for the largest positive contribution to the increase in the PMI, followed by inventory purchases, while delivery times, order intake, and employment dragged down the PMI.
On the price front, the index for suppliers’ raw and input prices rose to 57.2 in March from 53.2 in February.
“Tariff increases and increased geopolitical uncertainty have not hindered the recovery so far, although downside risks have increased now that the US is raising tariffs on the European automotive industry,” Swedish bank analyst Jorgen Kennemar said.
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