Sweden Services Activity Eases to 5-Month Low

The Services PMI in Sweden fell to 54.3 in January 2026 from a downwardly revised 56.3 in the previous month. This marked the softest pace of growth since August 2025 and brought the index below its historical average of 55.6. All major sub-indices declined, led by new orders, which dropped to 55.2 from 59.5 in December, reaching a six-month low. The business volume index (56.1 vs 56.6), employment index (49.7 vs 49.8), and delivery times index (55.2 vs 56.5) also fell. Additionally, price pressures in the services sector intensified, with the index for raw and intermediate goods prices rising to 60.1, the highest level in a year, from 59.5 in December. Jörgen Kennemar, responsible for PMI analysis, said, “It is too early to determine whether it is a temporary slump or not. Companies are still optimistic in their business plans, which suggests that it is a temporary slowdown."