Sweden’s services sector contracted at a slower pace in May, survey data from Swedbank and the logistics association SILF showed on Wednesday.
The Purchasing Managers’ Index for the services sector increased to 40.9 in May from 39.0 in April. Any reading below 50 indicates contraction in the sector.
There are no clear signs of an imminent recovery in the [business][1] cycle, Swedbank analyst Jorgen Kennemar said.
Order intake showed the largest increase in May, followed by employment. Meanwhile, suppliers’ delivery time lengthened and business volume declined in May.
The composite PMI, which combines manufacturing and services, rose to 40.5 in May from 38.3 in the previous month.
However, the outlook for the Swedish business sector for the next few months remains challenging, Kennemar said.
For comments and feedback contact: editorial@rttnews.com
[Economic News][2]
What parts of the world are seeing the best (and worst) economic performances lately? Click[here][3] to check out our [Econ Scorecard][3] and find out! See up-to-the-moment rankings for the best and worst performers in [GDP][3], [unemployment rate][4], [inflation][5] and much more.
- www.rttnews.com/Content/Business.aspx
- www.rttnews.com/Content/EconomicNews.aspx
- www.rttnews.com/economic-scorecard/world-rank/GDP/highest-performance.aspx
- www.rttnews.com/economic-scorecard/world-rank/unemployment-rate/lowest-performance.aspx
- www.rttnews.com/economic-scorecard/world-rank/CPI/highest-performance.aspx