Swedish Factory Growth Eases In September

(RTTNews) - Sweden's manufacturing sector growth moderated in September, survey data from Swedbank and the logistics association SILF showed on Tuesday.

The purchasing managers' index for the manufacturing sector dropped to 51.3 in September from 52.6 in August. However, a reading above 50 indicates expansion.

"It is becoming increasingly clear that Swedish industry is being pressured by a weaker global economy, and it is above all order intake that we see a clear slowdown during the autumn," Swedish bank analyst Jorgen Kennemar said.

Among components, the order intake sub-index accounted for the largest negative contribution to the PMI fall, followed by production and inventories. Nontheless, the decline was limited by the subindex for employment and suppliers' delivery times.

Price pressures in the Swedish business economy decreased in September amid falling raw material costs and a stronger krona. The corresponding index for suppliers' raw and input prices was noted in September at 48.6 from 50.8 in August, which is the lowest level since March.