Ongoing growth in Scandinavia

Sweden's GDP grew by 1.2 per cent in the fourth-quarter of 2010, delivering 7.3 per cent annualised growth. Meanwhile, its manufacturing PMI fell by 0.6 to 60.9 last month. The index is now 5.1 points below its peak in May last year. In direct contrast, Norway's PMI rose for the second month in a row, to 58.7 in February. The index is now at its highest level since October 2007.