Sweden Manufacturing Growth Highest in Over 4 Years

Sweden’s Swedbank Manufacturing PMI rose to 57.2 in April 2026 from 56.2 in March, extending its run above the long-term average for a tenth straight month. This marked the highest reading since February 2022, supported by stronger new orders (59.4 vs 54.2) and suppliers’ delivery times (64.3 vs 59.6), while inventory purchases (57.0 vs 51.8), employment (55.1 vs 57.9), and production weighed on the overall index. Order backlogs also rose to 59.4 from 53.2, pointing to sustained demand. Looking ahead, firms remained optimistic, with production plans climbing to 70.1, the first time since February 2022 that the index has exceeded 70. On the cost side, the supplier raw and input price index surged by 11.5 points to 81.3, the highest since May 2022, reflecting rising energy prices and supply disruptions linked to developments in the Middle East, which have increased cost pressures across the sector.

Sweden’s Swedbank Manufacturing PMI rose to 56.3 in March 2026 from 56.0 in February, remaining above its long-term average for the ninth consecutive month. This marks the highest reading since March 2022, supported by higher employment (57.9 vs 54.9 in February) and inventory purchases (51.4 vs 53.6). Meanwhile, suppliers’ delivery times lengthened sharply (58.7 vs 52.4), reflecting supply bottlenecks, while new orders also declined (54.6 vs 59.0), marking the largest negative contribution in 20 months. Export and domestic orders moderated to 52.2 and 53.9, respectively, while order backlogs remained stable at 52.9. Firms’ production plans for the next six months stayed elevated at 67.8, reflecting sustained optimism. On prices, the supplier raw and input price index jumped 9.6 points to 67.2, the highest since October 2022, driven by rising global energy costs amid the Middle East conflict.

Sweden’s Swedbank Manufacturing PMI rose to 56.1 in February 2026 from a revised 55.9 in January, marking its highest level since March 2022 and remaining above its long-term average of 54.3 for an eighth consecutive month. This signaled continued expansion in the industrial sector, driven mainly by stronger production (59.3 vs 57.8 in January) and higher employment (54.5 vs 53.6), both staying above historical norms. New orders remained robust despite easing slightly (59.6 vs 59.7). Order backlogs moderated (54.2 vs 59.4), alongside export orders (56.3 vs 57.2). Firms’ production plans for the next six months stayed elevated at 65.3, pointing to sustained optimism about economic conditions. Meanwhile, the supplier raw material and input price index fell to 56.5 from 58.2, indicating easing cost pressures, although price levels remain elevated amid higher global commodity prices, particularly industrial metals.