Sweden's Swedbank Manufacturing PMI rose to a three-month high of 52.5 in February 2019 from an upwardly revised 51.7 in January. The sub-index for orders was the biggest contributor on the rise of the index (54.0 vs 50.4 in January), followed by production (54.7 vs 53.4) and corporate stocks (53.7 vs 55.8). By contrast, decreases were seen in the sub-indexes for both employment (52.2 vs 54.9) and suppliers' delivery times (50.3 vs 52.4). Looking ahead, the sub-index measuring output expectations dropped to 54.4 in February from 60.3 in the previous month. Manufacturing PMI in Sweden averaged 54.70 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 54.60 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.