The Services PMI in Sweden fell to 51 in January 2023 from 52.9 in December, pointing to the lowest reading since May 2020. Among the sub-indexes, the weakest developments were seen in business volume (46 vs 52.9 in December) and new orders (48.3 vs 47.7), which were both below the 50 threshold. Meanwhile, employment remained at historically high levels of 60, suggesting continuous increased need for new hires in the service sector. On the price front, input prices edged lower (71.1 vs 72.4), but still well-above its historical average of 58. The PMI analyst at Swedbank noted that the service sector continued to weaken and the full effects of a weaker industrial economy and reduced domestic demand is likely not yet seen. source: Swedbank

Services PMI in Sweden averaged 56.32 points from 2006 until 2023, reaching an all time high of 71.00 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 February 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.

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Sweden Services PMI



Related Last Previous Unit Reference
Services PMI 51.00 52.90 points Jan 2023
Manufacturing PMI 46.80 45.90 points Jan 2023

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
51.00 52.90 71.00 34.00 2006 - 2023 points Monthly
SA

News Stream
Swedish Service Sector Growth Weakest Since 2020
The Services PMI in Sweden fell to 51 in January 2023 from 52.9 in December, pointing to the lowest reading since May 2020. Among the sub-indexes, the weakest developments were seen in business volume (46 vs 52.9 in December) and new orders (48.3 vs 47.7), which were both below the 50 threshold. Meanwhile, employment remained at historically high levels of 60, suggesting continuous increased need for new hires in the service sector. On the price front, input prices edged lower (71.1 vs 72.4), but still well-above its historical average of 58. The PMI analyst at Swedbank noted that the service sector continued to weaken and the full effects of a weaker industrial economy and reduced domestic demand is likely not yet seen.
2023-02-03
Sweden Service Sector Growth Eases for 2nd Month
The Services PMI in Sweden fell to 53.0 in December 2022 from 54.3 in November, marking its second month of slowdown in service activity. Among the sub-indexes, employment accounted for the largest decline (60.9 vs 66.4 in November), suggesting widespread need for new hires in the larger service firms. Meanwhile, new orders fell below the 50 mark for the first time in two years (47.7 vs 50.1), while delivery times slowed (54.4 vs 56.2). On the price front, input prices rose further (73.0 vs 72.1) and well above the historical average of 58. The PMI analyst at Swedbank noted that the latest reading showed that the service sector continues to be dampened, and the full effects of weaker industrial economy, lower housing construction and shrinking household consumption are not yet seen.
2023-01-04
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