Stockholm, September 4, 2024 — Sweden's Services Purchasing Managers' Index (PMI) recorded a slight decrease in August 2024, landing at 52.9, down from 53.8 in July. This recent update, provided on September 4, reflects a month-over-month comparison and suggests a moderation in the growth rate of Sweden’s services sector.
In July, the Services PMI indicator was stronger at 53.8, indicating a healthier expansion compared to the latest figure. August's 52.9 points still suggest growth in the services sector but at a more moderate pace. A PMI above 50 indicates expansion in business activity, while a reading below 50 signals contraction.
This shift may reflect changes in domestic demand, business sentiment, and other economic variables impacting the services sector. Analysts will be watching closely to see if this trend continues into the latter part of the year, impacting Sweden's overall economic outlook.
