Purchasing Managers’ Index – Services, March 2015
Services PMI rose to 57.2 in March: continued strong development in the service sector
- The purchasing managers’ index for services (Services PMI) rose from 56.7 in February to 57.2 in March. Demand in the service sector is good, with a continued rise in new orders and longer delivery times. All sub-indexes were in the growth zone, although the rate of growth in employment slowed during the month.
- The sub-index for new orders posted 57.2 in March and together with the index for order backlogs has remained above 50 since July 2013. In the wake of the improved orders, production also climbed, with its sub-index reaching 60.5. Production plans remained optimistic, and the index for planned business volume rose to 67.6 in March (64.6 in February).
- The employment sub-index fell by 1.6 points to 54.8 in March. As a result, employment was the only component that contributed negatively, by 0.3 points, to the Services PMI. The biggest positive contribution to the main index was from suppliers’ delivery times. The contribution corresponded to 0.5 points and the index posted 55.5 in March.
- The index for suppliers’ intermediate goods prices rose from 50.8 in February to 56.6 in March. Prices have risen for eight months, but fluctuations in the index have increased lately.
PMI-Services, March 2015