Purchasing Managers' Index for the service sector rose to 50.8 in February, according to Swedbank and Silf. This can be compared to an index level of the revised level of 50.2 in January.
"The recovery in the service sector is slow-going. Moreover, companies are delaying hiring when the economic recovery is not gaining momentum, which is dismal signals for the Swedish labor market", says Jörgen Kennemar, responsible for the analysis of the Purchasing Managers' Index in a press release.
An index figure above 50 traditionally indicates increased activity in the sector.
