FOREX TradingCharts.com

Financial News: Sweden Services Growth Moderates In June

Sweden Services Growth Moderates In June

07/05/2021 - 07:14:00 (RTTNews)

(RTTNews) - Sweden's services sector activity expanded at a softer pace in June, survey data from Swedbank and the logistics association SILF showed on Monday.

The Purchasing Managers' Index for the services sector fell to 67.4 in June from a revised 71.3 in May.

The latest reading was the third highest in the fifteen-year history of the survey. Any reading above 50 indicates expansion in the sector.

"This shows that the service economy is in a strong expansive phase and that may receive additional support during the third quarter now that the corona restrictions are being withdrawn," Swedbank analyst Jorgen Kennemar said.

Among the four sub-indices, three declined in June. Order intake and employment declined, and suppliers' delivery time lengthened.

Price pressures increased further in June and supplier's input goods rose to a record high.

The composite PMI, which combines manufacturing and services, decreased to 66.9 in June from 69.8 in the previous month.

"This is the second highest level in the index's history and means that Swedish business and industry will continue to expand at a rapid pace, even though increased production costs and supply shortages mean challenges in the long run," Kennemar said.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Portugal GDP Rebounds In Q2 (04 hr(s), 08 min(s), 49 sec(s) ago)
(RTTNews) - Portugal's economy expanded in the second quarter after contracting in the previou ...Full Story»

Austria Economy Rebounds In Q2 (04 hr(s), 26 min(s), 49 sec(s) ago)
(RTTNews) - Austria's economy rebounded strongly in the second quarter to exit a recession, pr ...Full Story»

U.S. Consumer Sentiment Drops Slightly Less Than Initially Estimated In July (05 hr(s), 35 min(s), 49 sec(s) ago)
(RTTNews) - Revised data released by the University of Michigan on Friday showed consumer sentimen ...Full Story»

Chicago Business Barometer Unexpectedly Indicates Faster Growth In July (05 hr(s), 56 min(s), 49 sec(s) ago)
(RTTNews) - A report released by MNI Indicators on Friday unexpectedly showed a notable accelerati ...Full Story»

Italy GDP Growth Accelerates In Q2 (06 hr(s), 52 min(s), 49 sec(s) ago)
(RTTNews) - Italy's economy expanded at a faster pace in the second quarter, the preliminary e ...Full Story»

U.S. Personal Income Unexpectedly Inches Higher In June (06 hr(s), 59 min(s), 49 sec(s) ago)
(RTTNews) - Personal income in the U.S. expectedly saw a slight increase in the month of June, acc ...Full Story»

Eurozone Economy Bounces Back From Pandemic Driven Downturn (07 hr(s), 07 min(s), 49 sec(s) ago)
(RTTNews) - The euro area economy recovered in the second quarter, after two straight quarters of ...Full Story»

U.S. Personal Income Unexpectedly Inches Up 0.1% In June (07 hr(s), 38 min(s), 49 sec(s) ago)
(RTTNews) - Personal income in the U.S. expectedly saw a slight increase in the month of June, acc ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Portugal GDP Rebounds In Q2

07/30/2021 - 12:07 PM (RTTNews)
(RTTNews) - Portugal's economy expanded in the second quarter after contracting in the previou ...Full Story>>

Austria Economy Rebounds In Q2

07/30/2021 - 11:49 AM (RTTNews)
(RTTNews) - Austria's economy rebounded strongly in the second quarter to exit a recession, pr ...Full Story>>

U.S. Consumer Sentiment Drops Slightly Less Than Initially Estimated In July

07/30/2021 - 10:40 AM (RTTNews)
(RTTNews) - Revised data released by the University of Michigan on Friday showed consumer sentimen ...Full Story>>

Chicago Business Barometer Unexpectedly Indicates Faster Growth In July

07/30/2021 - 10:19 AM (RTTNews)
(RTTNews) - A report released by MNI Indicators on Friday unexpectedly showed a notable accelerati ...Full Story>>

Italy GDP Growth Accelerates In Q2

07/30/2021 - 09:23 AM (RTTNews)
(RTTNews) - Italy's economy expanded at a faster pace in the second quarter, the preliminary e ...Full Story>>

Do not sell my personal information

Copyright © 2021. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.