The services PMI in Sweden stood at 68.2 in May of 2022, unchanged from an upwardly revised figure in the previous month, pointing to the strongest growth in the sector in three months, with sub-index for employment rising (66.1 vs 62.1). Meanwhile the other sub-indices in PMI services declined.: business volume (63.4 vs 65.0), new orders (61.8 vs 62.4), and delivery times (87.6 vs 88.1). " Cost increases and rising delivery times have not prevented the service sector from expanding, although the downside risks have increased now that households' consumption space is limited due to high inflation while the real estate market faces increased challenges due to higher future interest rates,' said Jörgen Kennemar, who is responsible for PMI analysis at Swedbank. source: Swedbank

Services PMI in Sweden averaged 56.34 points from 2006 until 2022, reaching an all time high of 71.40 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 June of 2022.

Services PMI in Sweden is expected to be 55.70 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 54.00 points in 2023 and 55.00 points in 2024, according to our econometric models.

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Sweden Services PMI



Related Last Previous Unit Reference
Services PMI 68.20 68.20 points May 2022
Manufacturing PMI 55.20 54.90 points May 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
68.20 68.20 71.80 34.40 2006 - 2022 points Monthly
SA

News Stream
Swedish Services PMI Stays at 3-Month High
The services PMI in Sweden stood at 68.2 in May of 2022, unchanged from an upwardly revised figure in the previous month while staying at its highest reading in three months. The sub-index for employment rose further (66.1 vs 62.1), while other sub-indices softened, including business volume (63.4 vs 65.0), new orders (61.8 vs 62.4), and delivery times (87.6 vs 88.1). " Cost increases and rising delivery times have not prevented the service sector from expanding, although the downside risks have increased now that households' consumption space is limited due to high inflation while the real estate market faces increased challenges due to higher future interest rates,' said Jörgen Kennemar, who is responsible for PMI analysis at Swedbank.
2022-06-03
Swedish Services Growth at 3-Month High
The services PMI in Sweden increased to 68.1 in April of 2022 from a downwardly revised 62.9 in March, pointing to the strongest growth in the sector since January, as all sub-indices increased. The largest increase came from business volume (64.9 vs 56.7), followed by employment (61.1 vs 54.7), new orders (62.7 vs 58.9), and delivery times (88.0 vs 85.5). The delivery times reached the second highest index level in the index's history, indicating a high demand pressure, amid supply disruptions and an increase in shortage of labor. Meanwhile, the index for suppliers' input goods prices remained at historically high levels (90.2 vs 91.1 in March). " Rapid cost increases and supply disruptions have so far not prevented the service sector from expanding while business plans remain expansionary and suggest a positive view of the growth prospects even though the downside risks have increased," said Jörgen Kennemar, who is responsible for PMI analysis at Swedbank.
2022-05-04
Sweden Services PMI Edges Lower to 68 in February
The services PMI in Sweden decreased to 68 in February of 2022 from 68.6 in January, but still pointed to a robust growth in the services sector. New orders eased the most among sub-indices (66.6 vs 68.4), followed by delivery times (80.6 vs 81.6) and business volume (65.4 vs 65.6) while employment rose to the highest level since 2018 (61 vs 59.6). Also, the index for suppliers' input goods prices declined slightly in February but remains at high levels (85.7 vs 85.2). "The risk of continued high input prices has increased with the war in Ukraine and the introduction of sanctions, which can also lead to renewed supply disruptions and increased production costs", says Jörgen Kennemar, responsible for the analysis of the purchasing managers' index.
2022-03-03