Swedish Manufacturing PMI fell to a seasonally adjusted over 2-year low of 52.0 in December of 2018 from a downwardly revised 55.4 in November. The biggest contribution to the decrease in PMI came from the sub-index measuring production (53.0 vs 59.6 in November), followed by order intake (53.3 vs 55.7), and employment (52.1 vs 53.8). Also, the measuring suppliers' delivery times declined (51.4 vs 57.1) and stocks went down (54.0 vs 55.3). Looking ahead, the sub-index measuring output expectations dropped to 63.4 in December from 66.7 in the previous month. Manufacturing PMI in Sweden averaged 54.72 from 1994 until 2018, 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.