June 4, 2014
Purchasing Managers’ Index
Services PMI rises to 58.5 in May: the service sector continues to grow at a high rate
The purchasing managers’ index for services
(Services PMI) rose to 58.5 in May
a 0.6 point increase compared to April. The index for business activity made the largest positive contribution to the PMI, but this was offset by a drop in
delivery times. All of the sub-indices remain in the growth zone, which indicates a robust recovery in the service sector.
The business activity index added 0.6 points to the Services PMI. The indices for new orders and employment also contributed, by 0.3 points each, to the uptick in PMI total.
However, suppliers’ delivery times dropped
to just above the 50-mark, thus pulling the PMI down by 0.6 points.
The index for planned business activity fell marginally, from 63.1 in April to 62.8 in May. This drop was from an already high level, and planned business activity remains expansive. Together with rising order backlogs and stronger new orders, this suggests that companies may need to increase staff, which is consistent with the rise in the employment index.
for suppliers’ intermediate goods prices dropped below 50 in May,
marking the fifth consecutive month in which intermediate goods prices have decreased. The majority of purchasing managers reported unchanged prices, further suggesting that we are in a protracted period of low price pressure.
publication of Purchasing Managers’ Index –
Services: Thursday July 3, 2014
Inköpschefsindex - Tjänster
06 07 08 09 10 11 12 13 143035404550556065707530354045505560657075
(Purchasing Managers’ Index
Apr. 57.9 Mar. 53.7 Feb. 57.0 Jan. 56.0 2013 Dec. 57.8 Nov. 57.2 Oct. 53.9 Sep. 53.5 Aug. 53.8 Jul. 56.8 Jun. 45.1 May 47.7
Åke Gustafsson, Swedbank Macro Research, +46 (0)70-676 1639 Sebastian Bergfelt, Silf, +46 (0)73-944 6450, firstname.lastname@example.org