FX.co ★ Sweden Manufacturing Expands Most in 4 Years

Sweden’s Swedbank Manufacturing PMI edged up to 56.1 in February 2026 from a revised 55.9 in January, reaching its highest level since March 2022 and staying above its long-term average of 54.3 for the eighth consecutive month. The reading pointed to continued expansion in the industrial sector, supported primarily by stronger production (59.3 vs. 57.8 in January) and higher employment (54.5 vs. 53.6), with both components remaining above historical norms.

New orders stayed robust, easing only marginally (59.6 vs. 59.7), while order backlogs (54.2 vs. 59.4) and export orders (56.3 vs. 57.2) moderated. Firms’ production plans for the next six months remained elevated at 65.3, underscoring sustained optimism about the economic outlook.

At the same time, the supplier raw material and input price index declined to 56.5 from 58.2, signaling some easing in cost pressures. However, overall price levels remained high, reflecting increased global commodity prices, especially for industrial metals.