Sweden Manufacturing Activity Climbs Over Four-Year High

Sweden's Swedbank Manufacturing PMI rose to 58.3 in June 2026 from an upwardly revised 57.4 in May, marking its highest level since January 2022 and extending its run above the long-term average to 12 consecutive months. The improvement was driven by stronger production (59.9 vs 58.4 in May) and order intake (58.9 vs 56.2). Meanwhile, employment softened to 57.5 from 58.9, while suppliers' delivery times shortened slightly to 63.5 from 63.8. Export and domestic orders rose to 55.4 and 57.6, respectively. On the pricing front, the index measuring suppliers' raw material and input prices rose slightly by 0.1 point to 81.3. Manufacturers became less optimistic, with the production plans index edging down to 68.8 from 70.2, below the 70 threshold, as persistent input cost pressures raised concerns that they could become inflationary and pose a challenge for manufacturers over time.

Sweden's Swedbank Manufacturing PMI edged up to 57.3 in May 2026 from a downwardly revised 57.0 in April, extending its streak above the long-term average to eleven straight months. It was also the highest reading since February 2022, supported by stronger production (58.1 vs 57.7 in April) and employment (59.1 vs 55.5). Meanwhile, order intake softened to 55.8 from 58.9, while suppliers' delivery times lengthened slightly to 64.1 from 64. On the pricing front, the index measuring suppliers' raw material and input prices fell by 0.4 points to 81.6. Looking ahead, manufacturers remained highly optimistic, with the production plans index edging up to 70.7 from 70.3, marking the second straight month above the 70 threshold. According to Jörgen Kennemar, the Swedish industrial sector continues to strengthen and remains stronger than many of its international peers, while Middle East-related supply disruptions and higher raw material costs have yet to significantly affect production plans.

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.