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Manufacturing PMI Below 50 For 19th Consecutive Month

SWEDEN
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The February Swedish manufacturing PMI rose to 49.0 from 47.1, remaining in contraction for the 19th consecutive month.

  • Even though the manufacturing component in the Economic Tendency Indicator fell in February (to 98.4 from 99.2), both surveys remain in contractionary territory.
  • All sub-components other than planned production were below the 50-handle in February. Production saw the most notable rise to 49.1 from 42.8, while the rise in new orders to 48.5 from 46.5 was driven by domestic orders.
  • The input prices component rose to 47.3 from 45.7.
  • However, the Riksbank will be more interested in the development of services prices - the services PMI is due on Tuesday March 5 and comes after services pricing plans fell markedly in the February Economic Tendency Indicator.

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The February Swedish manufacturing PMI rose to 49.0 from 47.1, remaining in contraction for the 19th consecutive month.

  • Even though the manufacturing component in the Economic Tendency Indicator fell in February (to 98.4 from 99.2), both surveys remain in contractionary territory.
  • All sub-components other than planned production were below the 50-handle in February. Production saw the most notable rise to 49.1 from 42.8, while the rise in new orders to 48.5 from 46.5 was driven by domestic orders.
  • The input prices component rose to 47.3 from 45.7.
  • However, the Riksbank will be more interested in the development of services prices - the services PMI is due on Tuesday March 5 and comes after services pricing plans fell markedly in the February Economic Tendency Indicator.