The Swedish Services PMI fell to a seasonally adjusted 56.4.2 in December 2018 from a downwardly revised 61.1 in the previous month. Decreases in sub-index were seen in new orders (record 56.5 vs 63.3 in November); business volume (57.0 vs 65.2); suppliers' delivery times (55.0 vs 56.0). Also, employment growth slowed to lowest since March (56.6 vs 57.3). Looking ahead, the sub-index measuring output expectations edged down to 67.6 in December from 67.7 in the previous month. Services Pmi in Sweden averaged 55.89 Index Points from 2006 until 2018, reaching an all time high of 67.50 Index Points in December of 2006 and a record low of 34.30 Index Points in January of 2009.
Services Pmi in Sweden is expected to be 56.20 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services Pmi in Sweden to stand at 55.90 in 12 months time. In the long-term, the Sweden Services PMI is projected to trend around 55.50 Index Points in 2020, according to our econometric models.