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Sweden service sector growth slows in June

Staff Writer |
Sweden's service sector growth eased in June after accelerating in the previous month, survey data from the Swedbank and purchasing managers' group SILF showed.

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The purchasing managers' index fell to 53.4 in June from 54.4 in May. However, any reading above 50 indicates expansion in the sector.

All sub-indices, excluding employment remained in the growth territory in June.

The index measuring volume of business gained by 2.0 points to 55.4 in June. The sub index for new orders held steady at 56.1.

At the same time, the component index for employment fell to 49.1 in June from 53.9 in the preceding month.

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