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Swedish Factory Sector Remains Stagnant: Swedbank

Sweden's manufacturing sector remained stagnant in March, data from a survey by the Swedbank showed Monday.

The purchasing managers' index (PMI) for the manufacturing sector edged down to 50.2 in March from 50.3 in February. A PMI reading above 50 indicates expansion in the sector, while one below suggests decline. The index has balanced around the 50-mark for the second consecutive month.

The decline in the index was primarily influenced by a sharp fall in the production component, followed by the suppliers' delivery times.

Meanwhile, new orders received by Swedish manufacturers increased in March. Firms also increased their workforce during the month.

Input price inflation accelerated in March, owing to a further increase in prices of raw and intermediate goods, data showed.

by RTT Staff Writer

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