Sweden Factory PMI Above 60-mark First Time Since 2011

(RTTNews) - Swedish manufacturing sector expanded at the fastest pace since 2011 during December, on the back of strong production growth, survey results from Swedbank and the logistics group SILF showed Monday.

The Purchasing Managers' Index for the factory sector climbed to 60.1 from 57.3 in November. A PMI score above 50 suggests growth in the sector. The reading climbed above the 60-mark for the first time since 2011.

The three-month average of 58.6 for the PMI overall indicate a stronger fourth quarter, the survey said. For the third quarter, the score was 53.7.

Three of the five sub-indices of the headline PMI also reached 60 during December. The main boost to overall growth came from the production index. The employment index rose to its highest level in more than five years.