Financial News: Swedish Services Growth Improves In May

Swedish Services Growth Improves In May

06/03/2026 - 04:27:00 (RTTNews)

(RTTNews) - The Swedish service sector growth rebounded somewhat in May, though it remained below its historical average, survey results from Swedbank and the logistics association Silf showed on Wednesday.

The purchasing managers' index, or PMI, for the services sector rose to 53.9 in May from 52.6 in April. A score above 50 indicates expansion in the sector. Nonetheless, the reading stayed below its historical average of 55.6 for the second straight month.

Among components, the sub-index for new orders made the largest positive contribution to the increase in PMI services, followed by employment and delivery times, while business volume declined.

"The recovery in the services sector is slow and shows a shaky development," Swedbank analyst Jorgen Kennemar said.

"Since the end of last year, the services economy has lost momentum, and even though the index is in the growth zone, the level of activity is probably insufficient to lead to more new jobs in the sector."

Cost pressures intensified in May, with the index for raw and intermediate goods prices rising to 80.1 from 73.1 in April. Moreover, the cost inflation was the highest level since 2022.

The composite output index climbed to 54.9 in May from 53.9 in April, signalling an acceleration in the recovery of the Swedish business sector.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

U.S. Consumer Sentiment Rebounds From Record Low In June (05 hr(s), 0 min(s),34 sec(s) ago)
(RTTNews) - With consumers experiencing some relief due to the early-month easing in gasoline pric ...Full Story»

Brent Crude Oil Prices May Climb 36% In 2026 On Middle East Conflict: World Bank (05 hr(s), 50 min(s), 34 sec(s) ago)
(RTTNews) - The persisting conflict in the Middle East and the closure of the Strait of Hormuz are ...Full Story»

India Inflation Climbs To 3.93% In May (07 hr(s), 18 min(s), 34 sec(s) ago)
(RTTNews) - India's consumer price inflation accelerated further in May to the highest level i ...Full Story»

U.K. Economy Shrinks For First Time Since August (08 hr(s), 0 min(s),34 sec(s) ago)
(RTTNews) - The U.K. economy contracted for the first time since August last year as the U.S.-Iran ...Full Story»

Hong Kong Industrial Output Growth Slows In Q1 (09 hr(s), 14 min(s), 34 sec(s) ago)
(RTTNews) - Hong Kong's industrial production expanded at a slower pace in the first quarter o ...Full Story»

Spain Inflation Stable At 3.2% (09 hr(s), 27 min(s), 34 sec(s) ago)
(RTTNews) - Spain's consumer prices logged a steady increase in May, final data from the stati ...Full Story»

Croatia Producer Price Inflation Eases To 6.7% (09 hr(s), 36 min(s), 34 sec(s) ago)
(RTTNews) - Croatia's producer price inflation slowed slightly in May from a 31-month high in ...Full Story»

Turkey Current Account Deficit Narrows In April (09 hr(s), 49 min(s), 34 sec(s) ago)
(RTTNews) - Turkey's current account surplus decreased in April from a year ago, according to ...Full Story»