Sweden's Services PMI increased to a seasonally adjusted 48.7 in December 2019 from 47.9 in the previous month, pointing to the fourth straight month of contraction in service sector. New orders continued to decline (46.6 vs 45.7), as well as suppliers' delivery times (46.4 vs 46.7). Meanwhile, business growth picked up (52.0 vs 51.4) and employment rebounded slightly (50.6 vs 48.6). Finally, the sub-index measuring output expectations decreased to 61.9 in December from 64.2 in November. Services Pmi in Sweden averaged 55.60 points from 2006 until 2019, reaching an all time high of 67.20 points in April of 2007 and a record low of 34.50 points in January of 2009. source: Swedbank
Services Pmi in Sweden is expected to be 56.00 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 54.50 in 12 months time. In the long-term, the Sweden Services PMI is projected to trend around 55.10 points in 2020, according to our econometric models.