The service sector slowed significantly in February

The purchasing managers' index for the services sector fell to 48.3 in February, compared to 53.8 in January. This is the first time in seven months that the index has been below the 50 level, according to monthly surveys by Swedbank and the purchasing managers' association Silf.

"It is too early to assess whether the decline is temporary or permanent, but uncertainty for both the Swedish and global economies has increased following attacks on Iran by Israel and the US," says Jörgen Kennemar, economist at Swedbank, in a press release.

The index is an important temperature gauge for the economy and a value below 50 is considered to indicate a decline.

The measurement was made before the US and Israel attacked Iran, and before Iran began shelling targets in the Gulf states.