Sweden’s manufacturing PMI falls to 55.5 in January

Sweden's manufacturing PMI dropped to 55.5 in January from December's 56, slightly lower than forecasts. The PMI, for the past three years, continues to be in the range of 51 to 56.5. Amongst the sub-indices, production was at 57.9, while order intake was at 56.6 and employment at 54.7.

NIER's Tendency Survey manufacturing confidence rose sharply in January to the highest level that is in contrary with the stable PMI readings. Meanwhile, foreign demand is strengthening that benefit Swedish exporters. Sweden's economic rebound will continue in 2016 while the market turbulence will be a downside risk.