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Sweden Service Sector Expands For Fourth Month

Sweden's services sector activity expanded for the fourth month in a row in November, survey data from Swedbank and the logistics association SILF showed on Thursday.

The Purchasing Managers' Index for the services sector increased to 58.6 in November from revised 55.3 in October. Any reading above 50 indicates expansion in the sector.

"All sub-indices rose in November, which stands out compared with the eurozone, where PMI figures declined," Swedbank analyst Jorgen Kennemar said.

Suppliers' delivery time lengthened to the highest since April. Business volume, employment and order intake increased in November.

The composite PMI, which combines manufacturing and services, reached the highest level in two years, rising to 58.7 in November from 56.2 in the previous month.

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