01.03.201803:22:00UTC+00Sweden Factory Growth Exceeds Expectations

Sweden's manufacturing growth accelerated at a faster-than-expected pace in February, survey results from Swedbank and the logistics association SLIF showed Thursday.

The Purchasing Managers' Index, or PMI, for the manufacturing sector rose to 59.9 in February from 57.0 in January. Economists had expected the index improve to 58.0.

Any reading above 50 indicates expansion in the sector.

The sub-index for new orders contributed most to the headline index in February, rising to 61.4 from 54.8 in January.

The component index for production climbed to 62.6 from 59.0 and the employment index rose to 58.3 from 57.4.