FX.co ★ Sweden Factory Growth Hits 3-Month High

Sweden’s Swedbank Manufacturing PMI rose to 58.1 in September 2026 from a revised 56.3 in August, marking a three-month high and remaining above its long-term average of 54.3 for the fifteenth consecutive month. The uptick was mainly driven by stronger order intake (59.5 vs 55.1 in August) and higher production (60.0 vs 59.0). Order backlogs increased to 60.4 from 57.7, the highest level since January.

Domestic orders climbed to 58.6 from 55.1, while export orders rose to 53.3 from 51.8. Production plans strengthened sharply, jumping to 73.2 from 67.8, whereas the employment index eased slightly to 56.3 from 57.5.

Suppliers’ delivery times lengthened further, with the index rising to 62.7 from 60.4, while material inventories declined to 53.9 from 55.2. On the price side, raw material and input costs increased to 77.6 from 75.7, the highest level since June, signaling renewed cost pressures. According to Swedbank PMI analyst Jörgen Kennemar, these rising costs pose a headwind for industry and could either squeeze profit margins or lead to higher prices for producers and consumers.