The Services PMI in Sweden fell to 50.2 in May 2023 from an upwardly revised 50.6 in the previous month. It marked the second consecutive month of growth in the service sector but slowing compared to April, driven by the smaller expansions for new orders (51.2 vs 54.2 in April) and business volume (51 vs 52.4). Improvement was also seen for delivery times (42.7 vs 40.6), however it still remained below the 50-mark threshold. Meanwhile, employment strengthened to a four-month high of 55.3 (vs 52). On prices, input costs fell to 57.3 (vs 57.9), the second month in a row that the index is below its historical average of 58.1. Looking ahead, the PMI analyst at Swedbank noted that the downside risks for the service sector had increased due to weaker economic signals from the industry and the broad decline in housing construction. source: Swedbank

Services PMI in Sweden averaged 56.21 points from 2005 until 2023, reaching an all time high of 70.50 points in September of 2021 and a record low of 34.50 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 June of 2023.

Services PMI in Sweden is expected to be 50.70 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.

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Sweden Services PMI



Related Last Previous Unit Reference
Services PMI 50.20 50.60 points May 2023
Manufacturing PMI 40.60 44.90 points May 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
50.20 50.60 70.50 34.50 2005 - 2023 points Monthly
SA

News Stream
Swedish Service Sector Growth Slows in May
The Services PMI in Sweden fell to 50.2 in May 2023 from an upwardly revised 50.6 in the previous month. It marked the second consecutive month of growth in the service sector but slowing compared to April, driven by the smaller expansions for new orders (51.2 vs 54.2 in April) and business volume (51 vs 52.4). Improvement was also seen for delivery times (42.7 vs 40.6), however it still remained below the 50-mark threshold. Meanwhile, employment strengthened to a four-month high of 55.3 (vs 52). On prices, input costs fell to 57.3 (vs 57.9), the second month in a row that the index is below its historical average of 58.1. Looking ahead, the PMI analyst at Swedbank noted that the downside risks for the service sector had increased due to weaker economic signals from the industry and the broad decline in housing construction.
2023-06-05
Swedish Service Sector Rebounds in April
The Services PMI in Sweden expanded to 50.5 in April 2023, rebounding from an upwardly revised 49.9 in the previous period. The latest figure ended a two-month contraction sequence, as new orders rose above the 50-mark threshold (53.6 vs 49.2 in March) while business volume strengthened (53.4 vs 50.6). At the same time, employment edged down (51.6 vs 51.7) but remained in the growth zone. By contrast, delivery times continued falling (40.6 vs 48.7), reaching their lowest since 2009. On prices, input costs declined to 57.5 (vs 69.1), below the historical average of 58.1 for the first time since 2020. Looking ahead, the PMI analyst at Swedbank noted the service sectors remained on fragile footing due to weak private consumption and reduced housing construction.
2023-05-04
Swedish Service Sector Contracts for 2nd Month
The Services PMI in Sweden rose to 48.6 in March 2023, marking its second month of contraction but slowing compared to a downwardly revised 45.6 in February. Improvements were seen for new orders (47.8 vs 40.1 in February) and business volume (46.2 vs 44.5), but both sub-indexes were still below the growth zone. Meanwhile, employment grew above the 50-mark threshold, after contracting for the first time in two years last month (51.8 vs 48.6). However, delivery times fell to its lowest in over three years at 49.6 (vs 53.5). On prices, input costs rose to 68.8 (vs 66.3), remaining well-above the historical average of 58.2. The PMI analyst at Swedbank noted that despite the cooling of the service sector’s contraction, the weak global economy, reduced housing construction and eroded purchasing power of households, still remained as major risk factors for the sector.
2023-04-05