STOCKHOLM (dpa-AFX) - Sweden's manufacturing sector expanded at the weakest pace in nine months in June, survey data from Swedbank and the logistics association SILF showed on Tuesday.
The purchasing managers' index for the manufacturing sector dropped to 51.9 in June from 53.1 in May. However, a reading above 50 indicates expansion.
Among components, the production sub-index accounted for the largest negative contribution to the PMI total, followed by new orders, employment, and delivery times, while inventory purchases made a positive contribution.
On the price front, the index for suppliers' raw and input prices rose to 50.3 in June from 49.8 in May.
'Industry is in the growth zone but is stagnating without gaining proper momentum,' Swedish bank analyst Jorgen Kennemar said.
'This is particularly the case in order intake, which raises questions about the strength of the economy and the uncertainty of what will happen after the American tariff break.'
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