The Purchasing Managers' Index for the manufacturing industry in March rose marginally to 53.6 according to Swedbank and Silf. This can be compared to an index level of 53.5 in February.
"In an expansive phase"
An index value above 50 indicates increased activity in the sector and analysts had expected an increase to 54.0 according to Bloomberg.
"Swedish industry continues to be in an expansive phase. Tariff increases and increased geopolitical uncertainty have not yet hindered the recovery, although the downside risks have increased now that the US is raising tariffs on European car industry", says Jörgen Kennemar, responsible for the analysis of the Purchasing Managers' Index at Swedbank, in a press release.
It is also turning in the right direction for the industry in the euro zone, although the manufacturing industry there still has a foot on the brake when it comes to activity levels.
The corresponding Purchasing Managers' Index for the manufacturing industry in France – from HCOB and S&P Global – rose to 48.5 in March, up from 45.8 in February. It was a slightly lower increase than the preliminary figure for March, which was 48.9.
Highest level since August 2022
HCOB and S&P Global's index for the German manufacturing industry rose to 48.3 – the highest level since August 2022 – in March, up from 46.5 in February. This increase is in line with a previously reported preliminary figure.
For the entire euro zone, the manufacturing industry's Purchasing Managers' Index rose to 48.6 in March, up from 47.6 in February. It is the highest level since January 2023.
