Sweden Factory Growth Highest Since 2022

Sweden’s Swedbank Manufacturing PMI rose to 60.5 in October 2026 from an upwardly revised 58.5 in September, marking its highest level since January 2022. The index remained above its long-term average of 54.3 for a sixteenth consecutive month, supported primarily by a strong increase in production, which climbed to 66.1 from 60.8. Employment also rose to 60.1 from 57.0, while inventory levels declined to 51.9 from 53.6 and delivery times shortened to 62 from 62.6. On the price front, the raw material and input prices index climbed to 82.6 from 78.3 in September, reaching its highest level since May 2022 and pointing to persisting cost pressures. According to Jörgen Kennemar, rising cost pressures are challenging industrial companies’ margins and increasing the risk of higher costs being passed on to producers and consumers. He added that this is something the Riksbank needs to consider ahead of its next monetary policy decision.

Sweden’s Swedbank Manufacturing PMI rose to 58.1 in September 2026 from a revised 56.3 in August, reaching its highest level in three months and remaining above its long-term average of 54.3 for the 15th consecutive month. The improvement was driven by stronger order intake (59.5 vs 55.1 in August) and production (60.0 vs 59.0), while order backlogs increased to 60.4 from 57.7, the highest since January. Domestic orders rose to 58.6 from 55.1, while export orders increased to 53.3 from 51.8. Production plans jumped to 73.2 from 67.8, while employment eased to 56.3 from 57.5. Suppliers’ delivery times lengthened to 62.7 from 60.4, while material inventories fell to 53.9 from 55.2. On the price front, raw material and input prices climbed to 77.6 from 75.7, the highest since June, pointing to renewed cost pressures. Swedbank PMI analyst Jörgen Kennemar said rising costs are a headwind for industry and could pressure margins or push higher input costs onto producers and consumers.

Sweden’s Swedbank Manufacturing PMI rose to 56.1 in August 2026 from a revised 55.7 in July, remaining above its long-term average of 54.3 and signaling continued expansion. The improvement was supported by stronger production (58.9 vs 57.2 in July) and employment (57.6 vs 56.0), while order intake eased to 54.6 from 56.7. Suppliers’ delivery times shortened to 59.8 from 60.1, while inventories declined to 55.5 from 58.1. Export orders fell to 51.7 from 54.1, while domestic orders edged up to 54.7 from 54.2. On the price front, the index for suppliers’ raw material and input prices jumped to 75.4 from 67.1, pointing to renewed cost pressures. Meanwhile, the production plans index increased to 66.9 from 65.8, although it remained below the 70 threshold, indicating cautious optimism.