2020.11.05
New downturn is in the cards
The purchasing managers' index for the services sector in October continues to point downwards in the euro area. In both September and October, this index has fallen below 50, indicating falling production from the previous month. The correspondence between the PMI and production is far from perfect. The corresponding index in Sweden was still above 50 in October, but most indications are that it will follow the development in the euro area as a result of the new, stricter restrictions surrounding the corona pandemic that have recently been introduced.
