September 4, 2013
Services PMI drops to 53.7 in August: service sector continuesto recover
managers’ index for services
(Services PMI) fell from 56.6 in July to 53.7 in August. This makes two consecutive months in the growth zone for the index, after havingshown contraction in the service economy for the second quarter. The composite indexremains above the 50 mark, and all four component indices landed above the 50 mark aswell, which indicates that the recovery in the service sector remains underway.
The indices for business activity and new orders decreased relative to their levels in July,resulting in a negative contribution of 3.9 points to the Services PMI. Increased index levels
for employment and suppliers’ delivery times offset this decrease somewhat, combining for a
positive contribution of 1 point.
The index for
service companies’ business plans increased marginally from 61.9 in July to
62.0 in August
its highest level since June 2011. The index for planned business activityhas been rising for four consecutive months, which suggests that service companies aregradually becoming more optimistic about the economy going forward.
intermediate goods prices rose by 2.1 points to 52.1 in August. Thisis the first time since March that the index has landed above the 50 mark, but this index levelstill indicates restrained cost pressure on service companies.
Next publication of
Purchasing Managers’ Index
Services: Thursday October 3, 2013
Inköpschefsindex - Tjänster 05 06 07 08 09 10 11 12 133035404550556065707530354045505560657075
Index - Services)
2013 Aug. 53.7
Jul. 56.6Jun. 44.9May 47.8 Apr. 48.6
Mar. 47.3Feb. 54.6Jan. 52.62012
Dec. 49.2Nov. 46.5Oct. 50.3Sep. 47.2 Aug. 50.6Jul. 54.6Jun. 47.3May 47.7 Apr. 48.7
Åke Gustafsson Swedbank Research, +46 (0)8-700 9145Sebastian Bergfelt, Silf, +46 (0)73-944 6450, firstname.lastname@example.org