FX.co ★ Sweden Services Sector Growth Accelerates in June

Sweden's Services Purchasing Managers' Index (PMI) increased to 54.6 in June 2025, rising from a slightly adjusted 50.9 in May. This surge represents the most robust expansion since October 2022. The uptick was primarily fueled by significant growth in new orders and business activity, which both hit three-year peaks at 59.5 and 57.6, respectively. Despite these positive signs, the labor market showed continued weakness, as the employment index descended to 43.4, marking its lowest point since 2020, and highlighting ongoing employer reluctance to expand their workforce. Furthermore, delivery times extended for the 13th consecutive month, indicating ongoing logistical challenges. Regarding prices, input costs experienced a mild increase to 53.5, though data from the second quarter points to sustained relief in cost pressures. Swedbank analyst Jörgen Kennemar commented that while the robust PMI reading cuts through recent stagnation, more data is required to substantiate a broader economic recovery.