Sweden’s services sector expands for 1st time since March

Written by Miroslav Marinov

Miroslav Marinov, a financial news editor at TradingPedia, is engaged with observing and reporting on the tendencies in the Foreign Exchange Market, as currently his focus is set on the major currencies of eight developed nations worldwide.

, | Updated: October 30, 2024

Sweden’s services sector has returned to growth in June, the latest data by Swedbank showed.

The Services Purchasing Managers’ Index was reported at a reading of 51.8 in June, up from a revised up 49.8 in May.

The sub-indexes of new orders (52.5 versus 50.5 in May) and delivery times (54.1 versus 49.8 in May) registered an improvement.

In the meantime, the gauges of new business volumes (50.2 versus 50.4 in May), backlog of orders (51.5 versus 52.6 in May) and raw & input prices (53.7 versus 54.2 in May) deteriorated last month.

The Swedish Krona was little changed on the day against the US Dollar, with the USD/SEK currency pair last trading at 10.5636.

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