Services PMI rose to 59.9 in December – Finishes 2016 on a high note
- The purchasing managers’ index for the service sector (Services PMI) rose slightly from 59.8 in November to 59.9 in December, finishing 2016 at its high for the year. The sub-index for new orders was the month’s main driver, increasing from 61.3 to 63.0 and positively contributing 0.6 points to the Services PMI. The sub-index for employment also rose, reaching 55.9 in December from 55.4 in November. Other sub-indexes retreated during the month. Outcomes for individual months should be interpreted with caution, however.
- The sub-index for suppliers’ delivery times fell by 2.8 points to 54.7 in December, contributing -0.5 points to the Services PMI. The three-month moving average signals a slightly faster pace of increases in recent months.
- The index for planned business volumes continued to rise, adding 0.6 points to 69.9 in December. Purchasing managers in the service sector continue to show confidence in business development in the next six months.
- In December the index for prices of suppliers’ intermediate goods fell by 6.0 points to 57.8. The fourth-quarter average of 60.0, compared with 53.0 for the third quarter, shows a faster pace of increases in intermediate goods prices, however.
For further information: Nicole Bångstad, Swedbank Macro Research, phone 070 – 533 04 41, email@example.com & Johan Almesjö, Silf, phone 076-111 23 69, firstname.lastname@example.org or email@example.com
Next publication of Purchasing Managers’ Index – Services: Friday, 3 February 2017