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Sweden's Services Sector Growth Eases Notably In August

Sweden's services sector grew at a slower pace in August on orders and business volume, survey data from Swedbank and the logistics association SILF showed Monday.

The Purchasing Managers' Index for the services sector fell to 53.2 in August from 57.8 in July. Nonetheless, a reading above 50 indicates expansion.

The sub-index for business volume dropped 7.7 points to 54.1. Likewise, the indicator for new orders fell 7.2 points to 52.2.

The employment index slid 2.2 points to 52.9 in August. Hiring demand continued to rise, albeit at a slower pace.

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