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Sweden's manufacturing activity slightly decreased in November, the Swedbank and Silf said on Tuesday.
The Swedbank/Silf manufacturing purchasing managers' index or PMI dropped to 56 in November from 56.7 in October. However, this is the sixth straight month that the PMI is in the growth zone. Economists expected a PMI reading of 57 for November. A reading above 50 indicates expansion in the sector and below 50 suggests contraction.
Among the sub indicators, the employment index increased by 4.9 units to 48.7 in November, while new orders dropped 2.9 points to 57.9. Production index fell by 2.7 points to 59 from 61.7 in October.
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