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Financial News: Sweden Service Sector Growth Eases In May

Sweden Service Sector Growth Eases In May

06/05/2018 - 02:55:00 (RTTNews)

(RTTNews) - Sweden's service sector growth slowed in May, though remained strong, survey data from Swedbank and the logistics association SILF showed Tuesday.

The purchasing managers' index for the services sector dropped to 57.0 in May from 60.1 in the previous month. However, any reading above 50 indicates expansion in the sector.

The component index for employment fell the most by 8.5 points to 54.5 in May from 63.0 in April.

The index measuring the business volume dropped to 56.1 from 62.3 in April, while index for new orders rose from 59.3 to 59.5.

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