The Swedish Services PMI declined to a seasonally adjusted 53.3 in May 2019 from a downwardly revised 53.9 in the previous month. It marked the weakest pace of expansion in the service sector since April 2016, as declines were seen in both new orders (52.3 vs 54.1 in April); and employment (54.4 vs 55.6). Meanwhile, suppliers' delivery times were little-changed (48.5 vs 48.4). Finally, the sub-index measuring output expectations slipped to 66.0 in May from 66.2 in April. Services Pmi in Sweden averaged 55.85 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 56.00 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 56.00 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.