The Purchasing Managers' Index for the service sector rose in May to 50.8, according to Swedbank and Silf. This can be compared to an index level of 48.7 in April.
"Although the May figure was a step in the right direction, we still do not see any clear signs that growth is taking off in service companies", says Jörgen Kennemar, responsible for the analysis of the Purchasing Managers' Index, according to a press release.
It was the first time in three months that the index increased. An index value above 50 indicates increased activity in the sector.
Analysts had on average expected the index to rise to 48.9 in May, according to a compilation of forecasts made by Bloomberg.
The combined index for both the manufacturing industry and the service sector remained unchanged at 50.3 in May.
"The recovery in the business sector was still sluggish in May and is being held back by the service sector, while industry is in an expansive phase", says Kennemar.
