The services PMI in Sweden eased to 64.7 in August of 2021 from 69.1 in the previous month. The reading pointed to the slowest growth in service sector since March 2021, although the index was above the 60 level for the eighth month in a row and well above the historical average of 55.8. Order intake (down 7.8 points to 62.8) and business volume (down 7.9 points to 62) contributed the most to the decline . The sub-index for employment was broadly unchanged at 57.6 in August, while that for delivery times increased (up 1.7 points to 78.3) and made a positive contribution. Also, the index for suppliers' input goods prices remained at historically high levels even though the index slowed in August to 75.7 from 80.7 in July. source: Swedbank

Services PMI in Sweden averaged 55.81 points from 2006 until 2021, reaching an all time high of 71.60 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 September of 2021.

Services PMI in Sweden is expected to be 63.40 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 55.10 points in 2022 and 54.00 points in 2023, according to our econometric models.

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Sweden Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
64.70 69.10 71.60 34.40 2006 - 2021 points Monthly
SA


News Stream
Swedish Services Growth Slowed To 5-Month Low
The services PMI in Sweden eased to 64.7 in August of 2021 from 69.1 in the previous month. The reading pointed to the slowest growth in service sector since March 2021, although the index was above the 60 level for the eighth month in a row and well above the historical average of 55.8. Order intake (down 7.8 points to 62.8) and business volume (down 7.9 points to 62) contributed the most to the decline . The sub-index for employment was broadly unchanged at 57.6 in August, while that for delivery times increased (up 1.7 points to 78.3) and made a positive contribution. Also, the index for suppliers' input goods prices remained at historically high levels even though the index slowed in August to 75.7 from 80.7 in July.
2021-09-03
Swedish Services PMI Rises to Second-Highest on Record
The Services PMI in Sweden increased to 69.1 in July of 2021 from an upwardly revised 67.9 in the previous month. It was the second-highest reading on record in the sector, amid easing COVID-19 restrictions. Three of the four sub-indices increased. Both new orders (up 2.8 points to 70.7) and employment (up 3.3 points to 57.7) accounted for the largest increases, while delivery times declined and made a negative contribution (down 3.6 points to 75.8). Meantime, the index for suppliers' input goods prices remains at historically high levels and shows that rising input goods prices are widespread in the service sector, even though the index slowed to 81.2 from 82.2.
2021-08-04
Swedish Services PMI Highest in Over 15 Years
The Services PMI in Sweden increased to 71.7 in May of 2021 from an upwardly revised 66.6 in the previous month, signaling the fastest pace of expansion in the sector more than 15-year history. Business volume accounted for the largest contribution to the increase. Sub-indexes of both new orders and delivery times reached new record levels, while the employment index rose to the highest level since the end of 2018. Meantime, price pressures increased further and the index for suppliers' input goods prices rose to a new record level of 76.7. At the same time, the index for service companies' business volume plans increased to 70.2 from 67.2, driven by the service sector. " This is the highest index level to date and shows that the recovery in the business sector has been much faster than in the economic upswing after the global financial crisis just over a decade ago," Jorgen Kennemar, who is responsible for PMI analysis at Swedbank.
2021-06-03
Swedish Services Growth Highest in 14 Years
The Services PMI in Sweden increased to 65.6 in April of 2021 from an upwardly revised 61.9 in the previous month, signaling the fastest pace of expansion in the sector since April 2007. Business volume accounted for the largest contribution to the increase, followed by delivery times, and employment. Meantime, price pressures increased further to new record levels; and the index for service companies' business volume plans hit an all-time high, pointing to growing optimism about the output outlook for the next six months.
2021-05-05

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.