Sweden's industrial economy expanded at the quickest pace in four-and-a-half years in June, survey data from Swedbank and the logistics association SILF showed on Wednesday.
The purchasing managers' index for the manufacturing sector rose to 58.3 in June from 57.4 in May. A reading above 50 indicates expansion, and the latest PMI reading was the highest since January 2022.
Among components, the sub-index for new orders accounted for the largest contribution to the increase in the PMI, followed by production, while the other sub-indices fell slightly.
Price pressures remained elevated in June, with the index for suppliers' raw material and intermediate goods prices rising to 81.3 from 81.2 in May.
"The June figure confirms that the recovery has gained a broader foothold with rising order intake, higher production, and continued expansionary production plans," Swedbank Analyst Jorgen Kennermar said.
