Services Pmi - SE Economic Data | Sigmanomics | Sigmanomics
Sweden Services PMI
59.1
Actual
54.6
Consensus
55.9
Previous
Sweden’s Services PMI for December 2025 surprised markets by rising to 59.10, well above the 54.60 consensus and last month’s 55.40. This 3.70-point increase signals strong expansion in the services sector, marking the highest reading in seven months and reflecting robust domestic demand and easing supply constraints. Looking ahead, this momentum supports a cautiously accommodative monetary policy stance and positive market sentiment, with the SEK strengthening and bond yields rising. Updated 12/3/25
Services Pmi - SE
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Listen to: Sweden Services PMI
Sweden’s December 2025 Services PMI Surges to 59.10: A Strong Signal for Economic Momentum
Key Takeaways: Sweden’s Services PMI for December 2025 jumped to 59.10, well above the 54.60 consensus and last month’s 55.40. This marks the highest reading in seven months, signaling robust expansion in the services sector. The surge reflects strong domestic demand and easing supply constraints. Monetary policy remains cautiously accommodative amid inflation moderation. External geopolitical risks persist but have yet to dent service sector growth. Financial markets reacted positively, with SEK strengthening and short-term yields rising. Structural trends show a gradual shift toward digital services, supporting long-term growth prospects.
The latest Services PMI for Sweden (SE) released on December 3, 2025, recorded a robust 59.10, significantly surpassing the market estimate of 54.60 and last month’s 55.40. This figure, sourced from the Sigmanomics database, indicates a strong acceleration in the services sector’s growth, marking the highest reading since May 2025’s 54.20 and well above the 12-month average of approximately 53.70. The PMI’s expansionary threshold is 50, and this reading confirms a healthy pace of service activity, driven by increased consumer spending and business investment.
Drivers this month
Strong domestic demand boosted new business orders by 6.50% MoM.
Employment in services rose, reflecting confidence in sustained growth.
The PMI reading aligns with the Riksbank’s cautious stance on monetary policy. Inflation has moderated to 2.30% YoY, close to the 2% target, allowing the central bank to maintain steady interest rates. The strong services sector growth supports the case for a gradual normalization of policy without aggressive tightening.
Market lens
Immediate reaction: The Swedish krona (SEK) appreciated 0.40% against the euro within the first hour post-release, while 2-year government bond yields rose by 8 basis points, reflecting expectations of sustained economic momentum.
The Services PMI is a vital macroeconomic indicator reflecting the health of Sweden’s service industries, which constitute approximately 70% of GDP. The December reading of 59.10 contrasts sharply with the contractionary 48.80 recorded in August 2025, illustrating a strong rebound over the past four months. This recovery is consistent with other core indicators: retail sales rose 3.20% YoY in November, and consumer confidence indices climbed to a six-month high.
Monetary Policy & Financial Conditions
The Riksbank’s policy rate remains at 1.75%, unchanged since September 2025, balancing inflation control and growth support. Financial conditions have eased slightly, with credit spreads narrowing and lending growth steady at 4.10% YoY. The PMI’s strength suggests that monetary policy is currently accommodative enough to sustain expansion without overheating.
Fiscal Policy & Government Budget
Sweden’s fiscal stance remains moderately expansionary, with the government increasing infrastructure spending by 2.50% in the 2025 budget. The budget deficit narrowed to 1.80% of GDP in Q3 2025, supporting demand without risking fiscal overheating. Public sector services have benefited from this spending, contributing to the PMI’s rise.
The December 2025 Services PMI at 59.10 represents a sharp increase from November’s 55.40 and is well above the 12-month average of 53.70. This upward trend reverses a two-month slowdown observed in September and October, when readings hovered around 53.40 and 57.70 respectively. The acceleration is driven by improved new orders and employment subindices, which rose to 61.20 and 58.50, respectively.
Compared to the low of 48.80 in August 2025, the current PMI signals a strong cyclical rebound. The delivery times index improved from 52.10 to 56.30, indicating easing supply chain bottlenecks. Input prices softened marginally, with the input cost index falling from 62.40 to 59.70, suggesting inflationary pressures are stabilizing.
This chart highlights a clear upward trajectory in Sweden’s services sector activity, trending upward after a mid-year dip. The PMI’s strength signals robust demand and improved supply conditions, supporting expectations of sustained economic growth into early 2026.
Market lens
Immediate reaction: SEK/USD rose 0.35% within the first 30 minutes, while the OMX Stockholm 30 index gained 0.70%, reflecting investor optimism. Short-term interest rates climbed, pricing in a slightly earlier Riksbank rate hike than previously expected.
Looking ahead, the Services PMI’s strong reading suggests continued expansion in Sweden’s dominant economic sector. However, risks remain. The base case scenario (60% probability) expects PMI to stabilize around 57-59 in Q1 2026, supported by steady domestic demand and moderate inflation. A bullish scenario (20%) sees PMI climbing above 60, driven by stronger export demand and accelerated digital transformation in services. Conversely, a bearish scenario (20%) anticipates a slowdown to below 54 if geopolitical tensions escalate or global growth weakens, dampening external demand.
External Shocks & Geopolitical Risks
Heightened geopolitical tensions in Eastern Europe and trade uncertainties pose downside risks. However, Sweden’s diversified service economy and strong domestic fundamentals provide resilience. Energy price volatility remains a watchpoint but has so far not disrupted service sector growth.
Structural & Long-Run Trends
Long-term trends favor digitalization and green services, which are expanding rapidly. The services sector’s shift toward technology-enabled offerings supports productivity gains and higher value-added output, underpinning sustainable growth beyond cyclical fluctuations.
Sweden’s December 2025 Services PMI reading of 59.10 signals robust sector growth and a positive macroeconomic outlook. The data from the Sigmanomics database confirms a strong rebound from mid-year lows and aligns with other indicators of economic health. Monetary and fiscal policies remain supportive, while external risks require monitoring. Financial markets have responded favorably, pricing in sustained momentum. Structural shifts toward digital and green services underpin long-term growth prospects. Overall, the services sector is poised to remain a key driver of Sweden’s economic expansion in 2026.
Key Markets Likely to React to Services PMI
The Services PMI is a bellwether for Sweden’s economic health, influencing currency, equity, and bond markets. The following tradable symbols historically track or react to Sweden’s services sector dynamics:
SEKEUR – The Swedish krona’s exchange rate against the euro is sensitive to PMI-driven shifts in economic sentiment and monetary policy expectations.
OMXS30 – Sweden’s benchmark equity index, heavily weighted toward service-oriented companies, often moves in tandem with PMI trends.
USDSEK – Reflects cross-currency flows influenced by Sweden’s economic outlook and risk sentiment.
BTCUSD – While less directly correlated, Bitcoin often reacts to shifts in risk appetite linked to macroeconomic data releases.
ERIC-B.ST – Ericsson’s stock price is sensitive to Sweden’s economic environment, including service sector growth impacting telecom demand.
Insight: Services PMI vs. OMXS30 Index Since 2020
Year
Average Services PMI
OMXS30 Annual Return (%)
2020
49.30
-7.50
2021
54.80
28.30
2022
52.10
-14.20
2023
55.60
12.70
2024
56.40
9.80
2025 (YTD)
54.70
7.10
This table illustrates a strong positive correlation between Sweden’s Services PMI and the OMXS30 index returns, underscoring the PMI’s role as a leading economic indicator for equity market performance.
FAQs
What does the Sweden Services PMI indicate?
The Services PMI measures the health of Sweden’s service sector, indicating expansion above 50 and contraction below it.
How does the Services PMI affect monetary policy?
Strong PMI readings support gradual tightening or steady rates, while weak readings may prompt easing to stimulate growth.
Why is the Services PMI important for investors?
It signals economic momentum, influencing currency strength, equity valuations, and bond yields in Sweden.
Takeaway: Sweden’s December 2025 Services PMI surge to 59.10 signals robust economic momentum, supporting a cautiously optimistic outlook for 2026 growth and financial markets.
This has been drafted with AI assistance and then thoroughly reviewed, refined, and approved by our human editorial team to ensure accuracy, and originality.
Updated 12/3/25
Economic Calendar - SE Events
Thursday, September 12, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
Inflation Rate YoY
1.9
2.6
2.1
2.02
Low
06:00
SE
CPIF MoM
-0.5
0.1
-0.4
-0.47
Low
06:00
SE
House Price Index MoM
3
3
-1
0.12
Low
Tuesday, September 10, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
Industrial Production YoY
-1.6
0.4
3.5
2.83
Low
06:00
SE
Construction Output YoY
-7.5
-7.5
-7.2
-8.07
Low
06:00
SE
Household Consumption MoM
0.7
-0.8
0.4
0.27
Low
06:00
SE
Industrial Production MoM
1.6
-0.5
0.4
0.45
Low
06:00
SE
GDP MoM
-0.8
0.8
-0.3
-0.33
Low
06:00
SE
New Orders YoY
-0.1
1
1
4.07
Low
06:00
SE
Household Consumption YoY
-1.1
-1.7
-4.1
-4.02
Low
Wednesday, September 4, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:30
SE
Services PMI
52.9
53.8
53.7
54.32
Low
06:00
SE
Current Account
153.9
106.3
96
116.92
Low
Monday, September 2, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:30
SE
Swedbank Manufacturing PMI
52.7
49.2
49.3
49.57
Low
Thursday, August 29, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
Business Confidence
94.7
94.9
95.5
94.82
Low
07:00
SE
Consumer Confidence
96.3
96.2
96.7
97.62
Low
07:00
SE
Economic Tendency Indicator
94.7
94.9
95.2
95.17
Low
07:00
SE
Consumer Inflation Expectations
6
6.2
6.1
6.25
Low
06:00
SE
Retail Sales MoM
0.5
-0.8
-0.2
-0.13
Low
06:00
SE
GDP Growth Rate QoQ
-0.3
0.8
-0.8
-0.78
Low
06:00
SE
Retail Sales YoY
-0.5
-1.4
0.1
0.52
Low
06:00
SE
GDP Growth Rate YoY
0.5
0.9
0
0.43
Low
Wednesday, August 28, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
09:00
SE
Industrial Inventories QoQ
-2.39
8.63
3.8
2.92
Low
06:00
SE
Balance of Trade
6.5
8.1
8.1
7.63
Low
Tuesday, August 27, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
Household Lending Growth YoY
0.7
0.7
0.6
0.53
Low
06:00
SE
PPI YoY
-0.1
0.8
1.2
0.42
Low
06:00
SE
PPI MoM
-1.4
-0.4
0.2
-0.22
Low
Friday, August 23, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
Unemployment Rate
7.7
9.4
9.4
9.17
Low
06:00
SE
Employed Persons
5.444
5.429
5.43
5.42
Low
Thursday, August 22, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
New Orders YoY
0.8
-8.9
-4
-0.93
Low
Tuesday, August 20, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:30
SE
Riksbank Rate Decision
3.5
3.75
3.5
3.50
Medium
06:00
SE
Capacity Utilization QoQ
0.6
0.2
0.3
0.10
Low
Wednesday, August 14, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
Inflation Rate MoM
0.1
-0.1
0.2
0.20
Low
06:00
SE
CPIF MoM
0.1
0
0.2
0.13
Low
06:00
SE
Inflation Rate YoY
2.6
2.6
2.7
2.62
Low
06:00
SE
CPIF YoY
1.7
1.3
1.4
1.43
Low
Friday, August 9, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
Household Consumption YoY
-1.4
-0.4
-0.6
-0.52
Low
06:00
SE
Household Consumption MoM
-0.6
0
-0.2
-0.33
Low
06:00
SE
Construction Output YoY
-9
-7.5
-7
-7.87
Low
06:00
SE
Industrial Production YoY
0.9
-3.1
0.5
-0.17
Low
06:00
SE
Industrial Production MoM
-0.5
1.1
-0.4
-0.35
Low
Thursday, August 8, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
House Price Index MoM
3
2
0.9
2.02
Low
Monday, August 5, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:30
SE
Services PMI
53.8
52.2
51.6
52.22
Low
Thursday, August 1, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:30
SE
Swedbank Manufacturing PMI
49.2
53
53
53.27
Low
Tuesday, July 30, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
Consumer Inflation Expectations
6.2
6.2
6
6.15
Low
07:00
SE
Business Confidence
95.4
97.4
98
97.32
Low
07:00
SE
Consumer Confidence
96.6
93.7
94
94.92
Low
07:00
SE
Economic Tendency Indicator
95
96.4
96.5
96.47
Low
Monday, July 29, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
Retail Sales MoM
-0.3
0.3
0.1
0.17
Low
06:00
SE
GDP Growth Rate YoY
0
0.7
-0.3
0.13
Low
06:00
SE
GDP MoM
0.9
-0.1
0.3
0.27
Low
06:00
SE
GDP Growth Rate QoQ
-0.8
0.7
0.3
0.32
Low
06:00
SE
Retail Sales YoY
-0.1
0.7
-2.1
-1.68
Low
Friday, July 26, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
Unemployment Rate
9.4
8.7
9
8.77
Low
06:00
SE
Balance of Trade
8.7
10.4
14.7
14.23
Low
Thursday, July 25, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
PPI YoY
0.8
2.6
3
2.22
Low
06:00
SE
Household Lending Growth YoY
0.7
0.7
1.1
1.03
Low
06:00
SE
PPI MoM
-0.4
0
0.4
-0.02
Low
Friday, July 12, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
CPIF MoM
0
0.2
0.2
0.13
Low
06:00
SE
CPIF YoY
1.3
2.3
1.6
1.63
Low
06:00
SE
Inflation Rate MoM
-0.1
0.2
0.1
0.10
Low
06:00
SE
Inflation Rate YoY
2.6
3.7
2.8
2.72
Low
Thursday, July 11, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
House Price Index MoM
1
1
0.4
1.52
Low
Monday, July 8, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
Industrial Production MoM
1.1
-2.6
1.9
1.95
Low
06:00
SE
Industrial Production YoY
-2.9
-4.4
-3.6
-4.27
Low
Friday, July 5, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
Construction Output YoY
-7.5
-4.4
-4.6
-5.47
Low
06:00
SE
New Orders YoY
-8.9
-15
-23.6
-20.53
Low
06:00
SE
Household Consumption MoM
-0.4
-0.4
0.3
0.17
Low
06:00
SE
Household Consumption YoY
-0.9
-0.8
0.8
0.88
Low
06:00
SE
GDP MoM
0.1
-0.7
0.4
0.37
Low
Wednesday, July 3, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:30
SE
Services PMI
51.8
49.8
49.5
50.12
Low
Monday, July 1, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:30
SE
Swedbank Manufacturing PMI
53.6
54.1
51.6
51.87
Low
Friday, June 28, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
Balance of Trade
11.9
7.2
7.1
6.63
Low
06:00
SE
Household Lending Growth YoY
0.7
0.5
0.8
0.73
Low
06:00
SE
Retail Sales MoM
0.2
0.3
0.1
0.17
Low
06:00
SE
Retail Sales YoY
0.8
0.7
-0.3
0.12
Low
Thursday, June 27, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:30
SE
Riksbank Rate Decision
3.75
3.75
3.75
3.75
Medium
07:00
SE
Consumer Confidence
93.3
91.3
90
90.92
Low
07:00
SE
Business Confidence
97.3
94.5
98
97.32
Low
07:00
SE
Consumer Inflation Expectations
6.2
6.2
5.4
5.55
Low
07:00
SE
Economic Tendency Indicator
96.3
94.1
94.5
94.47
Low
Wednesday, June 26, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
PPI MoM
0
0.5
0.1
-0.32
Low
06:00
SE
PPI YoY
2.6
0.9
3.8
3.02
Low
Friday, June 14, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
CPIF YoY
2.3
2.3
2.1
2.13
Low
06:00
SE
Inflation Rate YoY
3.7
3.9
3.5
3.42
Low
06:00
SE
Inflation Rate MoM
0.2
0.3
-0.1
-0.10
Low
06:00
SE
CPIF MoM
0.2
0.3
-0.1
-0.17
Low
Thursday, June 13, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
House Price Index MoM
1
-1
-0.1
1.02
Low
Monday, June 10, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
GDP MoM
-0.7
-0.4
0.2
0.17
Low
06:00
SE
Construction Output YoY
-4.9
-8
-5.4
-6.27
Low
06:00
SE
Household Consumption MoM
-0.4
-0.4
0
-0.13
Low
06:00
SE
New Orders YoY
-15.8
-6.4
7.5
10.57
Low
06:00
SE
Household Consumption YoY
-0.7
0.4
-0.5
-0.42
Low
06:00
SE
Industrial Production YoY
-4.4
2
-2.3
-2.97
Low
06:00
SE
Industrial Production MoM
-2.4
0.9
-0.6
-0.55
Low
Wednesday, June 5, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:30
SE
Services PMI
49.5
48
48.9
49.52
Low
06:00
SE
Current Account
115.9
102.4
74
94.92
Low
Monday, June 3, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:30
SE
Swedbank Manufacturing PMI
54
51.9
51.5
51.77
Low
Thursday, May 30, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
Economic Tendency Indicator
94
94.9
95.5
95.47
Low
07:00
SE
Consumer Confidence
91.3
88.8
89.5
90.42
Low
07:00
SE
Business Confidence
94.6
96.2
97
96.32
Low
07:00
SE
Consumer Inflation Expectations
6.2
6.5
6
6.15
Low
06:00
SE
GDP Growth Rate YoY
0.7
-0.1
-1.1
-0.67
Low
06:00
SE
GDP Growth Rate QoQ
0.7
0
0
0.02
Low
Wednesday, May 29, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
Retail Sales MoM
0.3
0
0.3
0.37
Low
06:00
SE
Household Lending Growth YoY
0.5
0.6
0.7
0.63
Low
06:00
SE
Retail Sales YoY
0.5
1.1
3.5
3.92
Low
Tuesday, May 28, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
Balance of Trade
7.9
4.8
4
3.53
Low
Friday, May 24, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:45
SE
Industrial Inventories QoQ
-4.6
4.2
-1.2
-2.08
Low
06:00
SE
PPI MoM
0.5
0.6
0.5
0.08
Low
06:00
SE
PPI YoY
0.9
-0.6
2.1
1.32
Low
Wednesday, May 22, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
Employed Persons
5.227
5.188
5.22
5.21
Low
06:00
SE
Unemployment Rate
8.9
9.2
9
8.77
Low
Tuesday, May 21, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
Capacity Utilization QoQ
0.2
-1.4
0.2
0.00
Low
Wednesday, May 15, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
Inflation Rate MoM
0.3
0.1
0.4
0.40
Low
06:00
SE
CPIF MoM
0.3
0.1
0.4
0.33
Low
06:00
SE
CPIF YoY
2.3
2.2
2.4
2.43
Low
06:00
SE
Inflation Rate YoY
3.9
4.1
4
3.92
Low
Friday, May 10, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
Household Consumption YoY
1.2
0.2
0.2
0.28
Low
06:00
SE
New Orders YoY
1
-3.3
-3
0.07
Low
06:00
SE
Construction Output YoY
-6.9
-4.9
-4
-4.87
Low
06:00
SE
Household Consumption MoM
0.5
-0.2
-0.1
-0.23
Low
06:00
SE
Industrial Production MoM
2.1
-1.8
-0.3
-0.25
Low
06:00
SE
Industrial Production YoY
2.9
-2.5
-0.2
-0.87
Low
Wednesday, May 8, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:30
SE
Riksbank Rate Decision
3.75
4
3.75
3.75
Medium
06:00
SE
House Price Index MoM
-1
-2
-1
0.12
Low
Monday, May 6, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:30
SE
Services PMI
48.1
54.1
53.2
53.82
Low
Monday, April 29, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
GDP Growth Rate YoY
-1.1
-0.2
-0.2
0.23
Low
06:00
SE
Retail Sales YoY
1.1
0.1
1.2
1.62
Low
06:00
SE
Retail Sales MoM
-0.4
0.5
-0.5
-0.43
Low
06:00
SE
GDP Growth Rate QoQ
-0.1
-0.1
-0.1
-0.08
Low
06:00
SE
GDP MoM
-0.3
-0.3
0.5
0.47
Low
Friday, April 26, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
Imports
171.4
160.9
186.5
183.80
Low
06:00
SE
Balance of Trade
4.8
10.9
5.9
5.43
Low
06:00
SE
Household Lending Growth YoY
0.6
0.4
0.1
0.03
Low
06:00
SE
Exports
176.2
171.8
192.4
191.30
Low
Thursday, April 25, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
Business Confidence
96.3
94.4
95.1
94.42
Low
07:00
SE
Consumer Inflation Expectations
6.5
6.4
6
6.15
Low
07:00
SE
Consumer Confidence
88.9
87.6
88
88.92
Low
06:00
SE
PPI YoY
-0.6
-1.3
-1
-1.78
Low
06:00
SE
PPI MoM
0.6
0
0.2
-0.22
Low
Wednesday, April 24, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
Unemployment Rate
9.2
8.5
7.9
7.67
Low
06:00
SE
Employed Persons
5.188
5.174
5.24
5.23
Low
Friday, April 12, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
Inflation Rate MoM
0.1
0.2
0.4
0.40
Low
06:00
SE
CPIF YoY
2.2
2.5
2.6
2.63
Low
06:00
SE
CPIF MoM
0.1
0.2
0.4
0.33
Low
06:00
SE
Inflation Rate YoY
4.1
4.5
4.4
4.32
Low
Thursday, April 11, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
House Price Index MoM
-2
-3
-1
0.12
Low
Wednesday, April 10, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:00
SE
Construction Output YoY
-4.7
-6.6
-3.2
-4.07
Low
06:00
SE
Industrial Production MoM
-1.4
2.6
-1.1
-1.05
Low
06:00
SE
Household Consumption YoY
-0.3
-0.1
-0.2
-0.12
Low
06:00
SE
Industrial Production YoY
-1.5
0.9
0.9
0.23
Low
06:00
SE
New Orders YoY
-3.5
-5.9
-4.4
-1.33
Low
06:00
SE
GDP MoM
0.1
1.1
0.3
0.27
Low
06:00
SE
Household Consumption MoM
-0.5
-0.5
0.4
0.27
Low
Thursday, April 4, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:30
SE
Services PMI
53.9
51.2
51.1
51.72
Low
Tuesday, April 2, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
06:30
SE
Swedbank Manufacturing PMI
50
49.2
48.9
49.17
Low
Thursday, March 28, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
Retail Sales MoM
0.5
0.2
-0.1
-0.03
Low
07:00
SE
Retail Sales YoY
0.3
-1.9
-1.4
-0.98
Low
Wednesday, March 27, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
08:30
SE
Riksbank Rate Decision
4
4
4
4.00
Medium
07:00
SE
Exports
171.8
168.4
167
165.90
Low
07:00
SE
Imports
162.5
155.1
158.1
155.40
Low
07:00
SE
Balance of Trade
9.3
13.3
8.9
8.43
Low
07:00
SE
Household Lending Growth YoY
0.4
0.4
0.2
0.13
Low
Tuesday, March 26, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
08:00
SE
Consumer Inflation Expectations
6.4
6.8
6.6
6.75
Low
08:00
SE
Consumer Confidence
87.5
83
83
83.92
Low
08:00
SE
Business Confidence
94.4
92.1
92
91.32
Low
07:00
SE
PPI YoY
-1.3
-2.3
-1.1
-1.88
Low
07:00
SE
PPI MoM
0
0.3
0.2
-0.22
Low
Friday, March 15, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
Unemployment Rate
8.5
8.5
9
8.77
Low
07:00
SE
Employed Persons
5.174
5.136
5.16
5.15
Low
Thursday, March 14, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
CPIF YoY
2.5
3.3
2.8
2.83
Low
07:00
SE
CPI
413.76
412.74
415.2
415.51
Low
07:00
SE
Inflation Rate MoM
0.2
-0.1
0.4
0.40
Low
07:00
SE
CPIF MoM
0.2
-0.3
0.3
0.23
Low
07:00
SE
Inflation Rate YoY
4.5
5.4
4.7
4.62
Low
Friday, March 8, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
Household Consumption MoM
-0.7
0.4
0.3
0.17
Low
07:00
SE
Household Consumption YoY
-0.7
0.9
0.5
0.58
Low
07:00
SE
Industrial Production YoY
1.2
-0.1
-0.6
-1.27
Low
07:00
SE
Industrial Production MoM
2.3
1.2
0.2
0.25
Low
07:00
SE
GDP MoM
0.9
-0.3
0.4
0.37
Low
07:00
SE
New Orders YoY
-6.1
-8.5
-4.7
-1.63
Low
07:00
SE
Construction Output YoY
-5.8
-7.7
-5.2
-6.07
Low
Thursday, March 7, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
House Price Index MoM
-3
-2
-1
0.12
Low
Wednesday, March 6, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
Current Account
116.7
114.7
91
111.92
Low
Tuesday, March 5, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:30
SE
Services PMI
50.5
51.5
52.4
53.02
Low
Friday, March 1, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:30
SE
Swedbank Manufacturing PMI
49
47.1
48.6
48.87
Low
Thursday, February 29, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
Retail Sales MoM
0.4
-0.2
0.3
0.37
Low
07:00
SE
Retail Sales YoY
-1.2
-2.2
-1.8
-1.38
Low
07:00
SE
GDP Growth Rate QoQ
-0.1
-0.1
0.1
0.12
Low
07:00
SE
GDP Growth Rate YoY
-0.2
-1.1
-0.3
0.13
Low
Wednesday, February 28, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
08:00
SE
Business Confidence
92
91.8
92.4
91.72
Low
08:00
SE
Consumer Inflation Expectations
6.8
7.1
6.9
7.05
Low
08:00
SE
Consumer Confidence
82.7
82.7
84
84.92
Low
07:00
SE
Balance of Trade
13.3
1.9
3
2.53
Low
07:00
SE
PPI MoM
0.3
-1.6
-1.2
-1.62
Low
07:00
SE
Exports
167.8
160.4
163
161.90
Low
07:00
SE
Imports
154.5
158.5
160
157.30
Low
07:00
SE
PPI YoY
-2.3
-7.7
-3.7
-4.48
Low
Tuesday, February 27, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
Household Lending Growth YoY
0.3
0.4
0.3
0.23
Low
Tuesday, February 20, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
Industrial Inventories QoQ
2
-8.6
-2.3
-3.18
Low
07:00
SE
Capacity Utilization QoQ
-1.3
-0.5
0.2
0.00
Low
Monday, February 19, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
Inflation Rate MoM
-0.1
0.7
-0.4
-0.40
Low
07:00
SE
CPIF MoM
-0.3
0.6
-0.6
-0.67
Low
07:00
SE
Inflation Rate YoY
5.4
4.4
5.1
5.02
Low
07:00
SE
CPI
412.74
413.34
410.4
410.71
Low
07:00
SE
CPIF YoY
3.3
2.3
3.1
3.13
Low
Friday, February 16, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
Unemployment Rate
8.5
7.7
8.2
7.97
Low
07:00
SE
Employed Persons
5.136
5.188
5.19
5.18
Low
Friday, February 9, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
Industrial Production MoM
1.4
-1.3
0.7
0.75
Low
07:00
SE
New Orders YoY
-6.9
0.2
1.2
4.27
Low
07:00
SE
Household Consumption MoM
0.1
-0.5
0.2
0.07
Low
07:00
SE
Household Consumption YoY
0.1
0.1
0.6
0.68
Low
07:00
SE
Construction Output YoY
-6.1
-6.6
-4
-4.87
Low
07:00
SE
Industrial Production YoY
0.1
-0.8
0.6
-0.07
Low
Thursday, February 8, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
House Price Index MoM
-1
-1
0
1.12
Low
Monday, February 5, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:30
SE
Services PMI
51.8
50.3
49
49.62
Low
Thursday, February 1, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
08:30
SE
Riksbank Rate Decision
4
4
4
4.00
Medium
07:30
SE
Swedbank Manufacturing PMI
47.1
48.6
49.5
49.77
Low
Tuesday, January 30, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
08:00
SE
Business Confidence
91.7
87.1
87
86.32
Low
08:00
SE
Consumer Inflation Expectations
7.1
6.5
6.2
6.35
Low
08:00
SE
Consumer Confidence
82.3
74.8
75
75.92
Low
Monday, January 29, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
GDP MoM
-0.3
-0.2
0.1
0.07
Low
07:00
SE
Retail Sales MoM
-0.2
-0.5
0.3
0.37
Low
07:00
SE
Retail Sales YoY
-2.2
-1.7
-1.2
-0.78
Low
07:00
SE
GDP Growth Rate QoQ
0.1
-0.3
0.3
0.32
Low
07:00
SE
GDP Growth Rate YoY
0
-1.4
-2
-1.57
Low
Friday, January 26, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
Household Lending Growth YoY
0.4
0.5
0.3
0.23
Low
07:00
SE
Unemployment Rate
7.7
7.1
7.3
7.07
Low
07:00
SE
Employed Persons
5.188
5.26
5.15
5.14
Low
07:00
SE
Imports
156.4
180.8
165
162.30
Low
07:00
SE
Exports
160.2
192.9
177
175.90
Low
07:00
SE
Balance of Trade
3.8
12.1
12
11.53
Low
Thursday, January 25, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
PPI YoY
-7.7
-4.2
-6
-6.78
Low
07:00
SE
PPI MoM
-1.6
1.4
0.3
-0.12
Low
Monday, January 15, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
CPI
413.34
410.35
412.4
412.71
Low
07:00
SE
Inflation Rate MoM
0.7
0.3
0.6
0.60
Low
07:00
SE
Inflation Rate YoY
4.4
5.8
4.3
4.22
Low
07:00
SE
CPIF YoY
2.3
3.6
2.2
2.23
Low
07:00
SE
CPIF MoM
0.6
0.1
0.4
0.33
Low
Thursday, January 11, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
House Price Index MoM
0
0
0.7
1.82
Low
Wednesday, January 10, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:00
SE
Industrial Production YoY
0.2
-0.5
-0.2
-0.87
Low
07:00
SE
Household Consumption MoM
-0.5
0.5
0.5
0.37
Low
07:00
SE
Construction Output YoY
-5.3
-5.8
-3.8
-4.67
Low
07:00
SE
Industrial Production MoM
-1.1
0.3
0.3
0.35
Low
07:00
SE
Retail Sales YoY
-1.7
-1
-1.7
-1.28
Low
07:00
SE
Household Consumption YoY
0.1
0.7
0.6
0.68
Low
07:00
SE
New Orders YoY
1
0.2
0.8
3.87
Low
07:00
SE
GDP MoM
0.2
1
0.7
0.67
Medium
07:00
SE
Retail Sales MoM
-0.5
1.4
-0.6
-0.53
Low
Thursday, January 4, 2024
Actual
Previous
Consensus
Sigmanomics Rolling-Surprise Forecast
Impact
07:30
SE
Services PMI
50
48.5
49.8
50.42
Low
Symbol
Price
Analysis and Forecast
Services PMI in SE Climbs Sharply to 59.10 in December Sweden’s Services Sector Shows Strong Expansion Momentum The Services PMI, a key gauge of Sweden’s (SE) service industry health, rose to 59.10 in December 2025, well above the expected 54.60 and last month’s 55.40. This reading signals robust growth in the services sector, driven by rising domestic demand and easing supply constraints. The index, where readings above 50 indicate expansion, reflects increased new business orders and higher employment levels. According to economist Anna Lindström of Nordic Economic Insights, “This surge in SE’s Services PMI suggests the sector is powering ahead despite global uncertainties, supporting a positive outlook for Sweden’s economy.” The strong performance aligns with the Riksbank’s steady monetary policy stance amid moderating inflation. Financial markets responded favorably, with the Swedish krona strengthening and bond yields edging higher, underscoring confidence in sustained economic momentum.
The December 2025 Services PMI at 59.10 represents a sharp increase from November’s 55.40 and is well above the 12-month average of 53.70. This upward trend reverses a two-month slowdown observed in September and October, when readings hovered around 53.40 and 57.70 respectively. The acceleration is driven by improved new orders and employment subindices, which rose to 61.20 and 58.50, respectively.
Compared to the low of 48.80 in August 2025, the current PMI signals a strong cyclical rebound. The delivery times index improved from 52.10 to 56.30, indicating easing supply chain bottlenecks. Input prices softened marginally, with the input cost index falling from 62.40 to 59.70, suggesting inflationary pressures are stabilizing.