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.