Sweden’s service sector activity expanded at the slowest pace in five months, survey results from Swedbank and the logistics association Silf showed on Wednesday.
The purchasing managers’ index, or PMI, for the services sector dropped to 54.3 in January from 56.3 in December. However, a reading above 50 indicates expansion in the sector. That was below its historical average of 55.6.
“The recovery in the services sector has slowed down after a strong end to 2025, but it is too early to assess whether it is a temporary slump or not,” Swedbank Analyst Jorgen Kennermar said.
“Companies are still optimistic in their business plans, which suggest that it is a temporary slowdown.”
Among components, all sub-indices declined in January, and new orders were the largest contributor to the decline in the PMI services, reaching a six-month low.
Price pressures intensified, as the index for raw and intermediate goods prices rose to a 1-year high of 60.1 from 59.5 in December.
The composite PMI dropped to 54.8 in January from 56.0 in December, signaling a slower but robust growth in the Swedish business sector.
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