Sweden's Swedbank Manufacturing PMI increased to 52.4 in July 2019 from a downwardly revised 51.9 in the previous month, beating market expectations of 50.5. The latest reading pointed to the sharpest expansion in the manufacturing sector since May. The sub-index increased for employment (53.5 vs 51.4 in June), followed by inventories (50.0 vs 49.5), and suppliers' delivery times (49.0 vs 48.4). Meanwhile, the sub-index was unchanged for both production (at 54.2) and new orders (at 52.6). Looking ahead, the gauge measuring output expectations edged up to 61.1 in June from 61.0 in the previous month. Manufacturing PMI in Sweden averaged 54.65 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 51.00 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 53.60 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.