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The Service Sector Loses Momentum

» Updated: 14 September 2024, 01:55

» Published: 04 September 2024

The Service Sector Loses Momentum
Photo: HENRIK MONTGOMERY / TT

The Purchasing Managers' Index for the private service sector in August fell unexpectedly to 52.9, from 53.8 in July, according to a press release from Swedbank and Silf.

Analysts had on average expected a decline to 53.5 in August, according to a compilation of forecasts made by Bloomberg.

An index value above 50 indicates increased activity in the sector.

The composite index for August, which includes both the service sector and the manufacturing industry, rose to 52.8. In July, this measure was 52.5.

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By TTThis article has been altered and translated by Sweden Herald

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