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FX.co ★ Sweden Services PMI Contracts to 48.1 in April 2024

Sweden Services PMI Contracts to 48.1 in April 2024

In April 2024, Sweden's Services Purchasing Managers' Index (PMI) dropped to 48.1, indicating a contraction in the services sector. This decline comes after the previous indicator had reached 54.1 in the same month. The data, updated on 6th May 2024, shows a noticeable decrease in the sector's performance on a month-over-month basis.

The Services PMI is a key economic indicator that provides insight into the health of the services industry. A figure below 50 typically signals a contraction, while a number above 50 indicates expansion. The recent drop in Sweden's Services PMI highlights a challenging period for the sector, reflecting possible economic headwinds that policymakers and businesses may need to address to stimulate growth and recovery.

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