STOCKHOLM (dpa-AFX) - Sweden's service sector activity expanded at an accelerated pace in June, survey results from Swanbank and the logistics association Silf showed on Thursday.
The purchasing managers' index, or PMI, for the services sector rose to 54.6 in June from 50.9 in June. A reading above 50 suggests expansion in the sector. Nonetheless, the trend remained below its historical average of 55.8.
Among components, the sub-indexes for new orders and business volume contributed to the rise in PMI services, recording the highest index levels in three years, while employment and delivery times dragged the index down.
The index for raw and intermediate goods prices rose to 53.5 in June from 51.5 in May.
The composite index also climbed to 51.5 in June from 50.4 in May, indicating a marginal recovery in the Swedish private sector.
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