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.

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Sweden Services PMI



Related Last Previous Unit Reference
Services PMI 54.30 56.60 points Nov 2022
Manufacturing PMI 45.80 46.60 points Nov 2022

Sweden Services PMI
In Sweden, the Swedbank’s Services PMI measures the performance of the service sector and is derived from a survey of 200 companies. The index tracks variables such as New Orders (35 percent of total weight), Business Volume (25 percent), Employment (20 percent) and Suppliers’ Delivery Times (20 percent). A reading above 50 indicates that the services sector is generally expanding; below 50 indicates that it is generally declining.
Actual Previous Highest Lowest Dates Unit Frequency
54.30 56.60 70.90 34.40 2006 - 2022 points Monthly
SA

News Stream
Swedish Service Sector Growth Lowest in Over 2 Years
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.
2022-12-05
Swedish Service Sector Growth Quickens in October
The Services PMI in Sweden increased to 56.9 in October of 2022 from an over two-year low of 55.1 in the previous month. All sub-indices increased in the month, with the largest positive contribution coming from employment (61.8 vs 57.9 in September), followed by new orders (52.5 v 51.1), business volume (54.5 vs 53.2) and delivery times (62.5 vs 61.6). Meanwhile, production expectations retreated for the fourth month in a row to a new low (55.9 vs 58.4). On the price front, the index for suppliers' input prices increased further (82 vs 81.6). "The October outcome shows continued high price pressure in the service sector and is well above the index's historical average (57.9) with a risk of continued high service prices in the coming months", said Jörgen Kennemar, who is responsible for PMI analysis at Swedbank.
2022-11-03
Swedish Service Sector Growth Accelerates
The services PMI in Sweden increased to 59.4 in August of 2022 from a downwardly revised 58.1 in the previous month, pointing to the first increase, after falling for three consecutive months. Business volume (56.2 vs 51.7) was the largest positive contribution to the rise in the index, followed by employment (58.6 vs 55.9). Meanwhile, both sub-indices of new orders (54.1 vs 54.8 in July) and delivery times (73.2 vs 74.1)) declined. Meantime, the index of suppliers' input prices fell in August for the third consecutive month to 76.3 from 83.1 in July, the lowest level in more than a year. " Business continues to show growth, but trend-wise has lost momentum during the summer months compared to last spring," said Jörgen Kennemar, who is responsible for PMI analysis at Swedbank.
2022-09-05