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. source: Swedbank

Services PMI in Sweden averaged 56.40 points from 2006 until 2022, reaching an all time high of 71.50 points in May 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 October of 2022.

Services PMI in Sweden is expected to be 57.60 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
Manufacturing PMI 49.20 50.20 points Sep 2022
Services PMI 59.40 58.10 points Aug 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
59.40 58.10 71.50 34.40 2006 - 2022 points Monthly
SA

News Stream
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
Swedish Services PMI Falls to 19-Month Low
The services PMI in Sweden declined to 58.8 in July of 2022 from a downwardly revised 62.3 in the previous month, pointing to the weakest growth in the sector since December 2020, with the largest negative contribution from new orders (55.3 vs 59.5 in June), followed by employment (56.1 vs 62.8), business volume (53.1 vs 56.1) while, sub-indices of delivery times were unchanged (at 74.7). Meantime, the index for suppliers' input prices fell for the second consecutive month to 84.1 in July from 86.8 in June. " These are still high levels and indicate that the increased price pressure in the service sector is still widespread, even if there are signs of a dampening, “said Jörgen Kennemar, who is responsible for PMI analysis at Swedbank.
2022-08-03
Swedish Services PMI Falls to 16-Month Low
The services PMI in Sweden dropped to 62.8 in June of 2022 from a downwardly revised 67.8 in the previous month. It marked the weakest growth in the sector since February 2021, with the largest negative contribution from delivery times (74.3 vs 87.6 in May), followed by business volume (56.8 vs 61.4), employment (63.8 vs 67.1), and new orders (60.0 vs 61.4). " The June outcome shows a continued strong service economy even though the downside risks have increased with increasingly gloomy households and rising interest rates, which may be an increased challenge for service companies during the second half of the year, “said Jörgen Kennemar, who is responsible for PMI analysis at Swedbank.
2022-07-05