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The Swedish service sector fell in March

Wednesday, 04 April 2012
The Swedish purchasing managers’ index for services (PMI - services) fell by 1.5 index points to 52.6 in March from 54.1 in February. Index trend has continued downward, but is still within the service improvement and growth zone.

All sub-indices of the PMI services, in addition to suppliers' delivery times, fell in March. The largest negative contribution was the volume of business, followed by new orders. The increase in suppliers' delivery times may indicate that service firms operated with the rise in orders at the beginning of the year.

Service companies hiring needs slackened in March. At the same planned business volume was dampened for the fourth consecutive month and service companies welcome the economic outlook over the next six months.

The index is based on interviews carried out by Swedbank and Silf  from 200 purchasing managers in the private service sector. An index figure above 50 is considered to indicate growth.
Index of suppliers' input prices fell slightly in March. A number of purchasing managers reported a stable or rising price pressures, albeit significantly lower than the same month last year.
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