Sweden's manufacturing sector continued to remain stagnant in April, data from a survey by the Swedbank showed Thursday.
The headline purchasing managers' index (PMI) for the manufacturing sector remained unchanged from the previous month at 50.2 in April, staying marginally above the no-change 50 mark that separates growth from contraction. In February, the reading was 50.3.
The sub-indexes that measure production and new orders at Swedish factories increased sharply during the month. New orders from the export market gained notably. Meanwhile, the sub-index for supply delivery times remained unchanged during the month.
Manufacturing firms reduced their staffing levels in April. They also adjusted downwards their production plans for the next six months.
Input prices decreased by three index points in April, indicating lower rate of price pressures in the industry, data showed.
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