Financial News: Sweden Services Growth Strongest In Over 2 Years

Sweden Services Growth Strongest In Over 2 Years

04/04/2024 - 04:26:00 (RTTNews)

(RTTNews) - Sweden's service sector activity expanded at the fastest pace in more than two years in March, survey results from Swedbank and the logistics association Silf showed on Thursday.

The purchasing managers' index, or PMI, for the services sector rose to 53.9 in March from 51.2 in February. A score above 50 indicates expansion in the sector.

The order intake index accounted for the largest positive contribution to the monthly increase in services PMI, followed by employment, business volume, and delivery times.

"There are increasingly positive tones in the service economy of the country's larger service companies, and their business plans have become more expansive," Swedbank analyst Jorgen Kennemar said.

Data showed that the index for commodity and input prices retreated to 60.8 in March from 61.4 in February. Nonetheless, price pressures in the Swedish service economy remained high.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

South Korea Inflation Flat On Month In April (43 min(s), 13 sec(s) ago)
(RTTNews) - Consumer prices in South Korea were flat on a seasonally adjusted monthly basis, Stati ...Full Story»

New Zealand Building Consents Ease 0.2% In March (01 hr(s), 14 min(s), 13 sec(s) ago)
(RTTNews) - The total number of building permits issued in New Zealand was down a seasonally adjus ...Full Story»

Bank Of Japan Minutes Due On Thursday (02 hr(s), 03 min(s), 13 sec(s) ago)
(RTTNews) - The Bank of Japan will release the minutes from its March 18-19 monetary policy meetin ...Full Story»

Fed Leaves Rates Unchanged Amid Lack Of Progress On Inflation (05 hr(s), 41 min(s), 13 sec(s) ago)
(RTTNews) - Citing a lack of further progress toward its 2 percent inflation objective in recent m ...Full Story»

U.S. Construction Spending Unexpectedly Edges Slightly Lower In March (09 hr(s), 14 min(s), 13 sec(s) ago)
(RTTNews) - Reflecting a decrease in spending on private construction, the Commerce Department rel ...Full Story»

U.S. Manufacturing Index Indicates Modest Contraction In April (09 hr(s), 18 min(s), 13 sec(s) ago)
(RTTNews) - The Institute for Supply Management released a report on Wednesday showing a modest co ...Full Story»

U.S. Crude Oil Inventories Unexpectedly Rebound (09 hr(s), 24 min(s), 13 sec(s) ago)
(RTTNews) - The Energy Information Administration released a report on Wednesday showing an unexpe ...Full Story»

U.S. Job Openings Decrease More Than Expected In March (09 hr(s), 43 min(s), 13 sec(s) ago)
(RTTNews) - A report released by the Labor Department on Wednesday showed job openings in the U.S. ...Full Story»