Sweden's Swedbank Manufacturing PMI edged up to a four-month high of 52.8 in March 2019 from an upwardly revised 52.7 in February. The sub-index for employment was the biggest contributor to the increase (53.0 vs 52.4), followed by suppliers' delivery times (50.5 vs 50.4). By contrast, decreases were seen in the sub-indexes for: orders (53.3 vs 54.0); production (54.7 vs 54.9); and stocks (50.1 vs 52.9). Looking ahead, the sub-index measuring output expectations increased to 62.9 in March from 53.8 in the previous month. Manufacturing PMI in Sweden averaged 54.69 from 1994 until 2019, reaching an all time high of 70.40 in November of 1994 and a record low of 34 in December of 2008.
Manufacturing PMI in Sweden is expected to be 53.40 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing PMI in Sweden to stand at 54.00 in 12 months time. In the long-term, the Sweden Manufacturing PMI is projected to trend around 54.00 in 2020, according to our econometric models.