Economics

Swedish PMI Drops to Lowest Since 2016

Scania AB Production Line As Volkswagen AG Consider $9.33 Billion Bid — Photographer: Casper Hedberg/Bloomberg

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By Rafaela Lindeberg

January 2, 2019 at 7:54 AM UTC

Updated on

January 2, 2019 at 9:26 AM UTC

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Sweden’s manufacturing activity slowed sharply at the end of 2018, falling to the lowest level since early 2016 as production and hiring cooled.

The purchasing managers’ index fell to 52.0 in December from 55.4 in November, according to Swedbank/Silf. That’s the lowest level since February 2016.