Sweden's seasonally adjusted purchasing managers' index for the manufacturing sector rose to 36.7 in March from 33.9 in February, a survey by Silf and Swedbank said Wednesday. Economist expected a reading of 34.4. A year ago, the index stood at 54.7.
The index remained below the threshold level for the ninth consecutive month in March, but showed an improvement for the third consecutive month.
A reading above 50 indicates expansion, while a reading below 50 signals a contraction.
In March, the production index rose to 38.8 from 34, while new orders index moved up to 35.1 from 28.8. The employment index increased to 31.1 from 30.1 and the inventories index rose 3 points to 39.6.
Meanwhile, the delivery times index decreased to 28 from 28.4 in the previous month. The prices index fell to 27.7 from 30.4.
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