STOCKHOLM (dpa-AFX) - Sweden's manufacturing sector expanded at a softer pace in August, yet remained robust, survey data from Swedbank and the logistics association SILF showed on Wednesday.
The purchasing managers' index for the manufacturing sector fell to 60.1 in August from a revised 64.5 in July.
A PMI reading above 50 suggests growth in the manufacturing sector.
'The decline in PMI may be a sign that the growth rate in the industry has entered a calmer stage now that last year's production loss has recovered while supply shortages and supply disruptions have become a growing challenge for industry,' Swedbank analyst Jorgen Kennemar said.
Among the sub-indexes, the latest negative contribution came from order intake, production and employment. The suppliers' delivery time lengthened.
Planned production increased in August.
Suppliers' raw material and intermediate goods prices eased in August. Cost pressure increased and led to higher producer prices.
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