STOCKHOLM (dpa-AFX) - Sweden's services sector activity expanded at a softer pace in September, survey data from Swedbank and the logistics association SILF showed on Monday.
The Purchasing Managers' Index for the services sector decreased to 54.7 in September from revised 57.3 in August. Any reading above 50 indicates expansion in the sector.
'Individual monthly outcomes should be interpreted with caution, but the trend in PMI services is continuing upwards and goes a bit against what we have seen in the eurozone where the purchasing managers 'index has fallen in recent months,' Swedbank analyst Jorgen Kennemar said.
The largest negative contribution came from business volume and employment, where the sub-index for employment reached the lowest since April. Order intake declined in September, while delivery time lengthened.
Companies' business plan for the next six months were more expensive in September, though far from as expensive as before the Covid-19 pandemic.
The composite PMI, which combines manufacturing and services, fell to 54.9 in September from a revised 56.3 in the previous month.
'The Swedish business community showed a robust recovery during the third quarter, even though development slowed down at the end,' Kennemar said.
Copyright RTT News/dpa-AFX