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Home » Forex and Currency News » Sweden services industry returns to growth in October

Sweden services industry returns to growth in October

Written by Miroslav Marinov
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:

Sweden’s services sector has returned to growth in October, data showed.

The Services PMI came in at a level of 52.9 in October, up from 48.9 in September.

The sub-indexes of new business volume (at 56.1 in October from 47.2 in September), new orders (at 56.4 in October from 50.2 in September) and delivery times (at 52.3 in October from 51.6 in September) all registered an improvement.

On the other hand, the sub-index of employment had a negative impact on the overall result, as it dropped to 43.4 in October from 46 in September.

In the meantime, the sub-index of raw and input prices went up to 50.7 in October from 48.3 in the prior month, which suggested continued price pressure from the sector.

The Swedish Krona was 0.18% weaker on the day against the Euro, with the EUR/SEK pair last trading at 11.6761.

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