Suède PMI manufacturier

Sweden’s Swedbank Manufacturing PMI slipped to 54.6 in November 2025 from 55.1 in the previous month. The latest figure remained above its 54.3 long-term average for a fifth month but marked the lowest reading since July, largely due to a pullback in production (57.6 vs 60.5) and slightly slower delivery times (52.7 vs 53.2). Meanwhile, new orders strengthened further to 56.7, supported by firmer domestic demand, while employment edged higher to 51.6, keeping hiring in growth territory. Inventories were broadly stable at 49.9, but order backlogs surged to 58.7, the highest since early 2022. On prices, input costs rose again to 53.4, though still well below the historical average, pointing to subdued cost pressure. Despite weak eurozone conditions, especially in Germany, production plans remained strongly optimistic at 66.7, signaling confidence in the near-term outlook.