Financial News: Swedish Service Sector Contracts In July

Swedish Service Sector Contracts In July

08/05/2025 - 05:39:00 (RTTNews)

(RTTNews) - Sweden's service sector activity deteriorated in July amid weaker demand conditions, survey results from Swanbank and the logistics association Silf showed on Tuesday.

The purchasing managers' index, or PMI, for the services sector dropped to 48.8 in July from 54.3 in June. Any reading below 50 indicates contraction in the sector.

"The economic situation in the service sector is fragile and has difficulty gaining momentum, which is having an impact on employment, which recorded the lowest level since the pandemic year of 2020," Swedbank analyst Jorgen Kennemar said.

Among components, new orders accounted for the largest contribution to the decline in PMI services, followed by business volumes. The employment index fell below the 40 level for the first time since 2020.

The index for raw and intermediate goods prices fell to 52.8 in July from 53.5 in June, indicating that price pressures continue to ease in the services sector.

The composite index also declined to 50.3 in July from 53.6 in June, suggesting continued sluggish economic activity in Swedish business.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

German Inflation Accelerates To 2.2% In August (03 hr(s), 40 min(s), 48 sec(s) ago)
(RTTNews) - Consumer price inflation in Germany climbed in August to its highest level in five mon ...Full Story»

Poland Inflation Eases To 14-month Low (09 hr(s), 38 min(s), 48 sec(s) ago)
(RTTNews) - Poland's consumer price inflation slowed further in August to the lowest level in ...Full Story»

U.S. Consumer Sentiment Deteriorates Slightly More Than Initially Estimated In August (09 hr(s), 43 min(s), 48 sec(s) ago)
(RTTNews) - The University of Michigan released a report on Friday showing consumer sentiment in t ...Full Story»

Portugal GDP Growth Improves As Estimated, Inflation Rises (09 hr(s), 52 min(s), 48 sec(s) ago)
(RTTNews) - Portugal's economic growth accelerated as initially estimated in the second quart ...Full Story»

Chicago Business Barometer Slumps Much More Than Expected In August (10 hr(s), 01 min(s), 48 sec(s) ago)
(RTTNews) - MNI Indicators released a report on Friday showing a sharp pullback by its reading on ...Full Story»

Spain Inflation Steady At 2.7%; Retail Sales Growth Eases (10 hr(s), 43 min(s), 48 sec(s) ago)
(RTTNews) - Spain's consumer price inflation remained stable in August and retail sales growth ...Full Story»

U.S. Consumer Prices Increase In Line With Estimates In July (10 hr(s), 45 min(s), 48 sec(s) ago)
(RTTNews) - Consumer prices in the U.S. increased in line with economist estimates in the month of ...Full Story»

Czech GDP Growth Eases Less Than Estimated (10 hr(s), 53 min(s), 48 sec(s) ago)
(RTTNews) - The Czech Republic's economic growth moderated less than initially estimated in t ...Full Story»