The temperature in the Swedish industry increased further in July. The purchasing managers' index for the service sector rose in July to 54.2 according to Swedbank and Silf. This can be compared to an index level of 51.9 in June.
"But the uncertainty surrounding the global trade policy remains and lies like a wet blanket over the Swedish industry with a risk of setbacks further on", says Jörgen Kennemar, responsible for the analysis of the purchasing managers' index at Swedbank in a press release.
Analysts had on average expected the index to increase to 52.5 in July, according to a compilation of forecasts made by Bloomberg.
An index value above 50 indicates increased activity in the sector.
