Service Sector Shows Clear Recovery in September Index

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Service Sector Shows Clear Recovery in September Index
Photo: Annika af Klercker / SvD / TT

The temperature in the service sector is rising clearly, shows the purchasing managers' index for September.

The index, which is produced by Swedbank and the purchasing managers' organization Silf, rose from 53.8 in August to 57.7 in September, a level that has not been recorded in over three years.

"The service sector has had difficulty establishing itself in the growth zone but now shows signs of a clear recovery, even if the September result should not be overinterpreted", writes Jörgen Kennemar, economist at Swedbank, in a press release.

An index above 50 indicates growth.

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By TTEnglish edition by Sweden Herald, adapted for our readers

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