Sweden's seasonally adjusted purchasing mangers' index or PMI rose to 38.8 in April from 36.7 in March, the latest survey by the Swedbank and Silf showed Monday. Economists expected the reading to come in at 38.4.

A reading above 50 indicates expansion, while a reading below 50 signals a contraction.

The PMI was below the threshold reading of 50 for the tenth consecutive month, but showed an improvement for the fourth consecutive month.

In April, the production index edged up to 39.4 from 38.8 in the previous month, while the new orders index improved to 41.5 from 35.1. At the same time, the delivery times index moved up to 29.6 from 28. However, the employment index worsened to 28.3 from 31.1. The inventories index decreased to 35.9 from 39.6 in March.

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