Slow recovery in the service sector

The Purchasing Managers' Index for the private service sector rose to 51.4 in December, from revised 51.0 in November, according to Swedbank and Silf.

» Published:

Slow recovery in the service sector
Photo: Michael Sohn AP/TT

Share this article

It was a smaller increase than expected. Analysts had on average counted on an increase to 52.0 in November, according to a compilation of forecasts made by Bloomberg.

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

"The recovery in the service sector is slow despite interest rate cuts", says Jörgen Kennemar, responsible for the analysis of the purchasing managers' index, in a comment.

The index also shows that price pressure is increasing in the service sector. The index for raw material and input prices rose to 63.1 from 57.7 in November, the highest level in over a year.

"Even if a single month's outcome should not be over-interpreted, the risks of higher service inflation cannot be ruled out", says Jörgen Kennemar.

Tags

Author

TTT
By TTEnglish edition by Sweden Herald, adapted for local and international readers

More news

Trump Proposes Ending Quarterly Reports for Wall Street Companies

Trump Proposes Ending Quarterly Reports for Wall Street Companies

EU Regulators Seek Stricter Crypto Supervision by ESMA

EU Regulators Seek Stricter Crypto Supervision by ESMA

Elon Musk Buys $1 Billion in Tesla Shares, Boosting Stock by 7%

Elon Musk Buys $1 Billion in Tesla Shares, Boosting Stock by 7%

China Investigates Nvidia for Competition Law Violations

China Investigates Nvidia for Competition Law Violations

USA and China Reach Framework Agreement on Tiktok's Future

USA and China Reach Framework Agreement on Tiktok's Future

Black Soldier Fly Oil and Protein Developed for Animal Feed

Black Soldier Fly Oil and Protein Developed for Animal Feed

Basmati Rice Dispute Stalls EU-India Trade Agreement

Basmati Rice Dispute Stalls EU-India Trade Agreement

Stockholm Stock Exchange Stalls as Wall Street Opens

Stockholm Stock Exchange Stalls as Wall Street Opens

Sweden Construction Costs Rise 0.4% in August Amid Higher Electricity Prices

Sweden Construction Costs Rise 0.4% in August Amid Higher Electricity Prices

Swedes Report Decreased Satisfaction with Banks This Year

Swedes Report Decreased Satisfaction with Banks This Year

Fashion Trade Sales Rise for Third Consecutive Month

Fashion Trade Sales Rise for Third Consecutive Month

Powell's Rate Signal Influences Swedish Households Too

Powell's Rate Signal Influences Swedish Households Too

Asian Markets Rise Despite Weak China Data

Asian Markets Rise Despite Weak China Data

ANZ Bank Faces Record Fines for Bond Deal Misconduct

ANZ Bank Faces Record Fines for Bond Deal Misconduct

Trump Welcomes Foreign Investment and Workforce in the USA

Trump Welcomes Foreign Investment and Workforce in the USA

Government Boosts Support for Sweden's Regional Airports

Government Boosts Support for Sweden's Regional Airports

Klarna CEO: Embracing "Swedishness" as a Key Asset

Klarna CEO: Embracing "Swedishness" as a Key Asset

Handelsbanken Swish Payment Disruption Resolved

Handelsbanken Swish Payment Disruption Resolved

Government Proposes Increased Export Credit Guarantees for Swedish Companies

Government Proposes Increased Export Credit Guarantees for Swedish Companies

AstraZeneca Halts UK Research Facility Expansion Plans

AstraZeneca Halts UK Research Facility Expansion Plans