Purchasing Managers' Index- Services, September 2015
Services PMI rose to 57.0 in September: New orders turn higher
- The purchasing managers’ index for the service sector (Services PMI) recovered its loss in August and rose by 4.6 points to 57.0 in September. The service sector continued to grow at a steady pace with all indices in the growth zone. The main contributor on the upside was new orders, while suppliers’ delivery times negatively affected the Services PMI.
- The index for order backlogs rose to 53.4 in September. The upturn coincides well with rising orders. The sub-index for new orders rose to 59.3, the second highest level this year. At the same time business volumes continued to increase – the subindex reached 57.6 – indicating solid demand. For the upcoming half-year the outlook for future business volumes was bright and the index hit 68.2 in September.
- The employment sub-index rose to 55.5 in September (50.8 in August). According to a three-month moving average, hiring needs for Swedish service companies have steadily increased for some time.
- The index for suppliers’ intermediate goods prices fell to 54.0 in September. Despite the decrease, the index has been in the growth zone for 14 months, in eight of which it has exceeded 55.0.
- When changing analysis program, the weighting of the total index has been marginally affected. As a result, minor revisions have been made to isolated points in the historical time series for the total index.
PMI-Services, September 2015