FX.co ★ Sweden Services PMI Back in Expansion

In August 2025, Sweden's Services PMI increased to 53.4, up from an adjusted figure of 49.0 in July, indicating a recovery following a brief period of contraction. This upturn was primarily driven by a significant rise in new orders, which rose to 58.4 from 52.2, and an enhancement in business activity, which climbed to 53.0 from 50.2. Despite these positive developments, labor market conditions remained challenging, with employment still below the 50 threshold at 44.6, albeit an improvement from July's 37.3, marking the 13th consecutive month of contraction in this area. Supplier delivery times held steady at 53.7, indicating a persistent trend of extended lead times for 15 months. Regarding prices, input costs increased to 56.6, the highest level in five months, yet remained below the historical average of 58.0, suggesting rising yet constrained cost pressures. Swedbank analyst Jörgen Kennemar noted that, although the rebound indicates resilience, consistently higher PMI levels will be necessary to confirm a sustained growth in service output and employment.