Financial News: Swedish Service Sector Expands Marginally In May

Swedish Service Sector Expands Marginally In May

06/04/2025 - 03:49:00 (RTTNews)

(RTTNews) - Sweden's service sector activity expanded for the first time in three months in May, though marginally, survey results from Swanbank and the logistics association Silf showed on Wednesday.

The purchasing managers' index, or PMI, for the services sector rose to 50.8 in May from 48.7 in April. A reading above 50 suggests expansion in the sector. Nonetheless, the trend remained below its historical average of 55.6.

"Although the May outcome was a step in the right direction, we still see no clear signs that growth is picking up in service companies," Swedbank analyst Jorgen Kennemar said.

Among components, the new orders sub-index accounted for the largest increase, followed by employment, delivery times, and business volume.

On the price front, the index for raw and intermediate goods prices eased to 51.4 in May from 56.5 in April, indicating lower price pressure in the services sector, likely supported by a stronger krona.

The composite output index remained stable at 50.3 in May. The latest reading suggested that the recovery in the business sector was also at a low ebb in May and is weighed down by the service sector while industry is in an expansionary phase.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

New Zealand GDP Expands 0.8% In Q1 (03 hr(s), 38 min(s), 19 sec(s) ago)
(RTTNews) - New Zealand's gross domestic product expanded by a seasonally adjusted 0.8 percent ...Full Story»

Australia Unemployment Data Due On Thursday (04 hr(s), 52 min(s), 19 sec(s) ago)
(RTTNews) - Australia will on Thursday release May numbers for unemployment, highlighting a light ...Full Story»

Riksbank Signal Another Rate Cut (06 hr(s), 22 min(s), 19 sec(s) ago)
(RTTNews) - Sweden's central bank lowered its policy rate on Wednesday, as expected, and signa ...Full Story»

Fed Leaves Interest Rates Unchanged, Still Signals Two 2025 Rate Cuts (08 hr(s), 18 min(s), 19 sec(s) ago)
(RTTNews) - Despite pressure from U.S. President Donald Trump, the Federal Reserve on Wednesday an ...Full Story»

Treasury Reveals Details Of Two-Year, Five-Year & Seven-Year Note Auctions (11 hr(s), 40 min(s), 19 sec(s) ago)
(RTTNews) - The Treasury Department on Wednesday announced the details of this month's auction ...Full Story»

U.S. Crude Oil Inventories Plunge Much More Than Expected (12 hr(s), 12 min(s), 19 sec(s) ago)
(RTTNews) - A report released by the Energy Information Administration on Wednesday showed a steep ...Full Story»

U.S. Housing Starts Pull Back Sharply In May (12 hr(s), 38 min(s), 19 sec(s) ago)
(RTTNews) - The Commerce Department released a report on Wednesday showing a steep drop by new res ...Full Story»

U.S. Jobless Claims Pull Back Off Eight-Month High (12 hr(s), 41 min(s), 19 sec(s) ago)
(RTTNews) - First-time claims for U.S. unemployment benefits edged modestly lower in the week ende ...Full Story»