Sweden's Services PMI increased to a seasonally adjusted 54.1 in August 2019 from an upwardly revised 52.5 in the previous month. The reading pointed to the strongest pace of expansion in the sector since March, as increases were seen in new orders (53.0 vs 48.9 in July) and employment (55.5 vs 54.7) while business volume growth was unchanged (at 58.4). Conversely, sub-index supplier's delivery times sub-index declined to 49.1 from 49.4 in the previous period. Finally, the sub-index measuring output expectations fell to 60.3 in August from 64.1 in July. Services Pmi in Sweden averaged 55.77 Index Points from 2006 until 2019, reaching an all time high of 67.20 Index Points in April of 2007 and a record low of 34.50 Index Points in January of 2009.
Services Pmi in Sweden is expected to be 54.40 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 55.40 in 12 months time. In the long-term, the Sweden Services PMI is projected to trend around 55.10 Index Points in 2020, according to our econometric models.