Swedish PMI Slump Adds to Signs of Weak Export Recovery: Chart

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Swedish manufacturing PMI fell in August to its lowest level since April 2013. Nordea Bank AB says the Swedbank survey, coupled with floundering business confidence, indicates there are no signs that Swedish exports will recover from their recent downturn. Instead, “there is a risk of further decline, underlining that growth is slowing in the Swedish economy,” it said.