An index value over 50 indicates increased activity in the sector.
The industrial trend is strengthening, notes Jörgen Kennemar, who is responsible for analyzing the purchasing managers' index at Swedbank.
"The recovery in Swedish industry accelerated on a broad front in February and stands out in comparison with many other countries. Despite the threat of higher tariffs, the Swedish industrial trend continues to strengthen, while the need for new hires is increasing," says Kennemar in a press release.
"The outcome shows that the pressure on prices in the industry remains subdued, an effect of the sluggish global economy and the strengthening of the krona. These conditions may have a dampening effect on inflation going forward," he adds.
The report shows that the pressure on prices for raw materials and intermediate goods continues to decrease. This sub-index falls to 52.4 in February, from 54.2 in January. It is the lowest level in four months.
Swedish industry is performing strongly compared to some European heavyweights. The French purchasing managers' index for the manufacturing industry landed at 45.8 for February, up from 45.5 for January. Analysts had expected the index to remain unchanged.
The corresponding Purchasing Managers' Index in Germany came in at 46.5 for February, compared to 46.1 for January. In Germany as well, analysts had expected an unchanged outcome.
