LOGO
LOGO

Economy And The Numbers

Swedish Service Sector Contracts In September

By Midhin P.K.  ✉   | Published:   | Follow Us On Google News
rttnewslogo20mar2024

Sweden's services activity deteriorated for the first time in four months in September, survey results from Swedbank and the logistics association Silf showed on Thursday.

The purchasing managers' index, or PMI, for the services sector dropped to 49.1 in September from 52.4 in August.

Any reading below 50 indicates contraction, while a score above 50 suggests expansion in the sector.

"It is a surprisingly large and broad decline, even if a single monthly outcome should not be overinterpreted," Swedbank analyst Jorgen Kennemar said.

"A sluggish global economy and the uncertain geopolitical situation may have had a dampening effect on service companies."

Among components, order intake accounted for the largest negative contribution to the decline in services PMI, followed by business volume, delivery times, and employment.

On the price front, cost pressures eased further in September, with the index for commodity and input prices falling in September to 49.1 from 53.5 in August.

The composite output index dropped to 49.7 in September from 52.5 in August, indicating a slight contraction in the Swedish private sector.

Don't get caught off guard. Track key Economic Events with RTTNews Economic Trading Calendar.

For comments and feedback contact: editorial@rttnews.com

Economic News

What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.

Global Economics Weekly Update - December 15-19, 2025

December 19, 2025 15:10 ET
U.S. inflation data and interest rate decisions by major central banks were the highlights of this busy week for economics news flow. Employment data and survey results on the housing markets also gained attention in the U.S. In Europe, the European Central Bank and Bank of England announced their policy decisions and macroeconomic projections.