The Services PMI in Sweden dropped to 45.7 in February 2023, the first contraction since May 2020 and from a downwardly revised 50.8 in the previous month. The downturn was mainly due to the sharp decrease in new orders (39.8 vs 47.3 in January), while business volume ticked lower (44.5 vs 45.6). Additionally, employment fell below the growth zone of 48.5 (vs 59.5), for the first time in two years. On prices, input prices declined to 65.7 (vs 70.1), the lowest reading since December 2020 but remained above the historical average of 58.1. The PMI analyst at Swedbank noted that the economic decline is making a deeper impression on the service sector which increases the risk of growing unemployment. source: Swedbank
Services PMI in Sweden averaged 56.27 points from 2006 until 2023, reaching an all time high of 70.80 points in September of 2021 and a record low of 34.00 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 March of 2023.
Services PMI in Sweden is expected to be 49.00 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 54.50 points in 2024 and 53.40 points in 2025, according to our econometric models.