FX.co ★ Sweden Factory Growth Highest Since 2022

Sweden’s Swedbank Manufacturing PMI rose to 60.5 in October 2026, up from an upwardly revised 58.5 in September, reaching its highest level since January 2022. The index remained above its long-term average of 54.3 for the sixteenth consecutive month, driven mainly by a sharp increase in production, which climbed to 66.1 from 60.8. Employment also strengthened, rising to 60.1 from 57.0, while inventory levels eased to 51.9 from 53.6 and delivery times shortened slightly to 62 from 62.6.

On the price side, the index for raw material and input costs increased to 82.6 from 78.3 in September, its highest reading since May 2022, indicating persistent cost pressures. According to Jörgen Kennemar, these rising cost pressures are squeezing industrial companies’ margins and heightening the risk that higher costs will be passed on along the supply chain to producers and consumers. He noted that this is an issue the Riksbank must take into account ahead of its next monetary policy decision.