Sweden's Swedbank Manufacturing PMI increased to 47.1 in December 2019 from an upwardly revised 45.7 in the previous month. The latest reading pointed to the fourth straight month of contraction in the sector but the smallest in the current sequence of decline, due to softer declines in new orders (45.9 vs 44.1 in November), employment (47.8 vs 46.6), production (47.8 vs 46.4), and suppliers' delivery times (44.1 vs 42.6). Meanwhile, inventories fell further (47.4 vs 48.6). Looking ahead, the gauge measuring output expectations increased to 55.0 in December from 53.2 in the previous month. Manufacturing PMI in Sweden averaged 54.53 points from 1994 until 2019, reaching an all time high of 70.40 points in November of 1994 and a record low of 34 points in December of 2008. source: Swedbank
Manufacturing PMI in Sweden is expected to be 52.50 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing PMI in Sweden to stand at 54.50 in 12 months time. In the long-term, the Sweden Manufacturing PMI is projected to trend around 54.00 points in 2020, according to our econometric models.