The Swedish krona declined today as Sweden’s manufacturing index dip further last month as exporters struggled amid the European fiscal crisis. The unfavorable data spurred speculations that economic growth this quarter will be weak.
The Swedish Purchasing Managers’ Index declined from 44.7 to 43.1 in October. Analysts have hoped for an increase to 45.0. A reading below 50.0 indicates contraction. Exports fell 13 in September as demand from Europe receded.
USD/SEK went up from 6.6367 to 6.6614 as of 11:12 GMT today and its daily maximum was at 6.6812.
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