The Services PMI in Sweden fell to 54.3 in November 2022, the lowest reading since June 2020 and slipping from a downwardly revised 56.6 in the previous month. The downturn was considerably due to declines from business volume and delivery times, pulling the index down by a combined 2.4 points, along with order intake which weighed by 0.6 points. Meanwhile, the employment index added 0.7 points, as the labor market continued to strengthen in the services sector. On the price front, the input price index dropped to 71.1 from 80.4 in October, but remained high compared to its historical average of 57.9. The PMI analyst at Swedbank noted that the economy continued to move downward but remained in the growth zone supported by strong employment, with an increased risk of setbacks further down the line as companies lowered production and the slowdown in order intakes. source: Swedbank
Services PMI in Sweden averaged 56.37 points from 2006 until 2022, reaching an all time high of 70.90 points in September of 2021 and a record low of 34.40 points in January of 2009. This page provides the latest reported value for - Sweden Services PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Sweden Services PMI - data, historical chart, forecasts and calendar of releases - was last updated on December of 2022.
Services PMI in Sweden is expected to be 52.50 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Sweden Services PMI is projected to trend around 51.90 points in 2023 and 54.50 points in 2024, according to our econometric models.