STOCKHOLM (dpa-AFX) - Sweden's services sector grew at the fastest pace in five months in August, survey data from Swedbank and the logistics association SILF showed on Wednesday.
The services purchasing managers' index, or PMI, rose to 54.1 in August from 52.5 in July. Any reading above 50 indicates an expansion in the sector.
The order intake sub-index rebounded in August after remaining weak in the previous month and delivery time for suppliers increased for the fifth straight month.
The composite PMI rose to 53.6 in August from 52.4 in July. This was the second consecutive month the activity is rising during the third quarter.
Though it is a positive figure, the downside risks remain great, Swedbank analyst Jorgen Kennemar said.
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