The Swedish Services PMI fell to a seasonally adjusted 54.1 in January 2019 from a downwardly revised 55.8 in the previous month. The reading pointed the weakest pace of expansion in services activity since April 2016, as all four sub-indices declined: new orders (53.8 vs 55.9 in December); business volume (56.2 vs 56.7); employment (54.8 vs 55.7); and suppliers' delivery times (51.0 vs 54.6). Looking ahead, the sub-index measuring output expectations dropped to 65.5 in January from 66.9 in the previous month. Services Pmi in Sweden averaged 55.88 Index Points from 2006 until 2019, reaching an all time high of 67.20 Index Points in April of 2007 and a record low of 34.50 Index Points in January of 2009.
Services Pmi in Sweden is expected to be 56.20 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services Pmi in Sweden to stand at 55.90 in 12 months time. In the long-term, the Sweden Services PMI is projected to trend around 55.50 Index Points in 2020, according to our econometric models.