The PMI for Sweden's services sector increased to 51.4 in December, up from an upwardly revised 51 in November, reflecting a slow recovery. Despite an improved order situation and expansive business plans, companies hesitated to hire, risking delayed recovery in the labor market, noted Jörgen Kennemar, PMI analyst at Swedbank. Order intake contributed the most to the rise in the services PMI, followed by delivery times and employment, while business volumes fell. The sub-index for planned business volumes dropped but remained at its highest quarterly average in two years. On prices, pressures resurfaced, with the raw and input prices index climbing to 63.1 in December, the highest in over a year. Swedbank highlighted risks of rising inflation in the services sector amid weakening currency trends. Despite slow growth and signs of recovery, companies continue cautious strategies, reflecting persistent domestic demand challenges and delayed impacts of interest rate cuts. source: Swedbank

Services PMI in Sweden increased to 51.40 points in December from 50.90 points in November of 2024. Services PMI in Sweden averaged 55.73 points from 2005 until 2024, reaching an all time high of 71.40 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.

Services PMI in Sweden increased to 51.40 points in December from 50.90 points in November of 2024. Services PMI in Sweden is expected to be 52.00 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 54.00 points in 2026, according to our econometric models.




Related Last Previous Unit Reference
Bankruptcies 989.00 998.00 Companies Dec 2024
Business Confidence 100.60 98.60 points Dec 2024
Industrial Inventories 1823.64 -2166.05 SEK Million Sep 2024
Capacity Utilization 87.50 88.40 percent Sep 2024
Car Registrations 26321.00 24844.00 Units Dec 2024
Changes in Inventories 14514.00 -7544.00 SEK Million Sep 2024
Corruption Index 82.00 83.00 Points Dec 2023
Corruption Rank 6.00 5.00 Dec 2023
Electricity Production 0.00 0.00 Gigawatt-hour Dec 2024
Industrial Production YoY 2.60 -2.00 percent Nov 2024
Industrial Production MoM 2.40 -0.90 percent Nov 2024
Manufacturing Production 3.20 -1.50 percent Nov 2024
Mining Production -9.40 -11.30 percent Nov 2024
Natural Gas Stocks Capacity 0.10 0.10 TWh Jan 2025
Natural Gas Stocks Injection 0.00 0.00 GWh/d Jan 2025
Natural Gas Stocks Inventory 0.09 0.09 TWh Jan 2025
Natural Gas Stocks Withdrawal 0.00 0.00 GWh/d Jan 2025
New Orders YoY 100.50 97.80 points Nov 2024

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.


News Stream
Swedish Services Sector Growth Remains Modest
The PMI for Sweden's services sector increased to 51.4 in December, up from an upwardly revised 51 in November, reflecting a slow recovery. Despite an improved order situation and expansive business plans, companies hesitated to hire, risking delayed recovery in the labor market, noted Jörgen Kennemar, PMI analyst at Swedbank. Order intake contributed the most to the rise in the services PMI, followed by delivery times and employment, while business volumes fell. The sub-index for planned business volumes dropped but remained at its highest quarterly average in two years. On prices, pressures resurfaced, with the raw and input prices index climbing to 63.1 in December, the highest in over a year. Swedbank highlighted risks of rising inflation in the services sector amid weakening currency trends. Despite slow growth and signs of recovery, companies continue cautious strategies, reflecting persistent domestic demand challenges and delayed impacts of interest rate cuts.
2025-01-07
Sweden Services Sector Growth Slows
The Services PMI in Sweden fell to 50.9 in November, down from a revised 53.1 in October, signaling slower growth in the Swedish services sector. The order intake sub-index saw the largest decline, followed by manufacturing, while employment and delivery time sub-indexes rose. Service companies' business volume plans increased for the second consecutive month, reaching their highest level in over two years. On prices, the index for raw and input prices rose to 57.1 in November from 51.3 in October, the highest in six months, signaling rising price pressure in the service sector. Meanwhile, Jörgen Kennemar, Swedbank PMI analyst, noted that the recovery in the sector is slow despite interest rate cuts. While companies are more optimistic, they are still cutting jobs, which could result in continued high unemployment.
2024-12-04
Sweden Services Sector Returns to Growth
The Services PMI increased to 52.9 in October 2024, from a downwardly revised 48.9 in the previous month. The largest contribution to the index's upturn came from new business volume (56.1 vs 47.2 in September), followed by new orders, (56.4 vs 50.2), and delivery times (52.3 vs 51.6). However, employment negatively impacted the index, falling to 43.4 from 46 in the prior period. Meanwhile, the index for raw and input prices rose to 50.7 from 48.3, marking the sixth consecutive month below its historical average of 58.1, and indicating continued price pressure from the service sector.
2024-11-05