Sweden Manufacturing PMI surveys factory purchasing managers on output, orders and hiring; a reading above 50 means manufacturing is expanding and below 50 means it is contracting.
Actual
47.1
Forecast
49.5
Previous
48.6
Source: Swedbank. Figures as released; revisions appear in the next print.
Sweden Manufacturing PMI for January 2024 came in at 47.1 versus 49.5 expected (previous 48.6), below forecast, which was negative for the SEK.
What it meant for the SEK
The actual landed below the 49.5 forecast (2.4 below expectations). A reading above forecast is generally bullish for the SEK, and below forecast bearish. On this release the read was negative for the SEK.
New to this release? See what Sweden Manufacturing PMI measures, the next release and its full history.