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Financial News: Sweden Services Growth Slows, Yet Remains Strong

Sweden Services Growth Slows, Yet Remains Strong

04/03/2019 - 09:27:00 (RTTNews)

(RTTNews) - Sweden's services sector growth slowed slightly in March, but the momentum was strong, survey data from Swedbank and the logistics association SILF showed Wednesday.

The Purchasing Manager Index, or PMI, for the service sector fell to 55.3 in March from 55.3 in February.

Any reading above 50 indicates expansion in the sector.

Three out of four sub-indices, fell in March with the largest decline in employment, followed by the business volume and new orders, while the sub-index for delivery times remained at the same levels.

The composite PMI fell to 54.6 in March from 54.9 in February.

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