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Sweden Manufacturing Growth Fastest Since 2017

Swedish manufacturing sector expanded in November at the fastest pace since the fourth quarter of 2017 amid an increase in production and demand, survey data from Swedbank and the logistics association SILF showed on Tuesday.

The purchasing managers' index, or PMI, for manufacturing rose to 59.1 from a revised 58.3 in October.

A reading above 50 suggests growth in the sector. The score remained above its historical average of 54.4 for a third month in a row.

Three out of five sub-indexes of the PMI were above the 60-level for the second month in a row, suggesting robust growth.

"Swedish industry continues to show robust growth at the same time as production plans have become more expansive despite an increased spread of infection and stricter restrictions," Jörgen Kennemar, a PMI analyst at Swedbank, said.

"Instead, order intake for Swedish industry continues to increase, not least from the export market."

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