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Swedish service sector improved as PMI services rose to 52.4 in January

Tuesday, 05 February 2013
The Swedish purchasing managers' index for services (PMI - services) rose to 52.4 in January from 49.1 in December last year. This signals that the sector is likely going to pull the economy alone with that growth.

In a survey conducted by Swedbank, the overall index is thus back in the growth zone after a weak close last year. A month's observation is not sufficient though to establish that the service economy has fully turned.

Both sub-indices for the business volume of new orders rose during the month and gave equal positive contribution to the rise in the PMI services. The sub-index on employment fell slightly and showed a continued weak recruitment needs. Even sub-index for delivery times decreased.
by Team

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