Sweden Manufacturing Growth Slightly Softens

Sweden’s Swedbank Manufacturing PMI fell to 55.1 in October 2025 from 55.6 in September, but remained above its historical average of 54.3, and signaling continued, albeit softer expansion. The decline in the index was attributed to a slower growth across most sub-indices, led by new orders (55.6 vs 57.5 in September), employment (50.9 vs 53.1), and delivery times (53.3 vs 53.7). Meanwhile, inventories were nearing stabilization (49.9 vs 47.0), while production strengthened sharply (60.9 vs 57.6), reaching its highest level in four years. On prices, input costs rose for a third month to 51.7 (vs 51.2) but remained well below the long-term average of 57.6, indicating subdued cost pressures. Production plans for the next six months increased notably to 69.7 (vs 64.7), reflecting sustained optimism among manufacturers despite external headwinds such as sluggish eurozone demand, a stronger krona, and ongoing global trade uncertainty.