Services rose to 48.7 in December: Recovery from low level
The purchasing managers’ index for the private service sector (Services PMI) reached 48.7 in December, compared with 47.9 in November. It is the first time since August that the index rose. While four months in a row outside the growth zone shows that service activity continues to be weak, there are bright spots, not least in companies’ business plans, which remain expansionary even though the risks on the downside are high, says Jörgen Kennemar, who is responsible for PMI analysis at Swedbank.
Read the full report for December 2019 (pdf)
Services PMI fell to 47.9 in November: Weaker activity than normal
The purchasing managers’ index for the private service sector (Services PMI) dropped in November for the third month in a row to 47.9 from 49.4 in October.
- The decrease in the index means that service sector activity is continuing to decline in the fourth quarter to levels that have not been seen in six years and that are contributing to lower hiring needs in service companies, says Jörgen Kennemar, who is responsible for PMI analysis at Swedbank.
Read the full report for November 2019 (pdf)
Services PMI fell to 49.5 in October: Cooler service sector
The purchasing managers’ index for the private service sector (Services PMI) dropped in October to 49.5 from 49.8 in September, which is a smaller decline than the previous month. That the Services PMI is below the 50 mark for the second
month in a row indicates a slowing service sector. It is also beginning to impact employment, which noted the biggest decrease in October, says Jörgen Kennemar, who is responsible for PMI analysis at Swedbank.
Read the full report for October 2019
Services PMI fell to 49.8 in September: Weak finish to the third quarter
The purchasing managers’ index for the private service sector (Services PMI) dropped 4.4 points in September to 49.8. The index stayed in the growth zone in the third quarter at 52.1, but it continues to be lower than the historical average. This suggests weaker service activity than normal, says Jörgen Kennemar, who is responsible for PMI analysis at Swedbank.
Read the full report for September 2019
Services PMI rose to 54.1 in August: Increase but from low level
The purchasing managers’ index for the private service sector (Services PMI) rose in August to 54.1 and reached the highest level since March of this year. The upturn came in large part through an increase in new orders, which we know can show large monthly fluctuations, because of which the August outcome shouldn’t be over-interpreted, says Jörgen Kennemar, who is responsible for PMI analysis at Swedbank.
Read the full report August 2019
Services PMI fell to 49.9 in June: Cooling service sector
The purchasing managers’ index for the private service sector (Services PMI) fell in June to 49.9 from a downward revision of 52.8 in May, reaching the lowest level in six years. While individual months should be interpreted with caution, especially the summer months, the Services PMI is clearly trending downward, signaling a cooling Swedish service economy, says Jörgen Kennemar, who is responsible for PMI analysis at Swedbank.
Read the full report for June 2019
Services PMI fell to 53.3 in May: Slowdown in the service economy
The purchasing managers’ index for the private service sector (Services PMI) fell by 0.6 points in May to 53.3, the lowest level since 2016. This marks the third month in a row that the Services PMI has fallen, reinforcing the downturn in the service economy that has continued since 2018, says Jörgen Kennemar, who is responsible for PMI analysis at Swedbank.
Read the full report for May 2019
Services PMI fell to 54.0 in April: Downward but signs of stabilization
The purchasing managers’ index for the private service sector (Services PMI) fell for the second consecutive month, to 54.0 in April from 55.1 in March. A three-month moving average shows, however, that the index has stabilized in recent months and it may be the first indication that it has bottomed out, says Jörgen Kennemar, who is responsible for PMI analysis at Swedbank. The months ahead will be critical therefore to where the sector is headed.
Read the full report for April 2019
Services PMI fell to 55.3 in March: Slowdown in the economy
The purchasing managers’ index for the private service sector (Services PMI) fell in March to 55.3 from 55.8 in February. While the service sector is still in the growth zone, it has gradually lost momentum in recent quarters, says Jörgen Kennemar, who is responsible for PMI analysis at Swedbank. Since the first quarter of 2018 the Services PMI has fallen 4.1 points.
Read the full report for March 2019
Services PMI rose to 55.9 in February: Bright spots in the service sector
Services PMI rose to 55.9 in February from 54.2 in January. It was a broad-based increase and means that service sector activity strengthened in February. The trend is still downward, however, despite bright spots, says Jörgen Kennemar, who is responsible for PMI analysis at Swedbank. The coming months will be pivotal to where the service economy is headed.
Read the full report for February 2019
Services PMI dropped to 54.1 in January: Weak start to 2019
The purchasing managers’ index for the service sector (Services PMI) fell for the second month in a row, to 54.1 in January from 55.8 in December. The slowdown in the service sector continued in the first month of the year, consolidating the downward trend that began in 2018, says Jörgen Kennemar, who is responsible for PMI analysis at Swedbank.
Read the full report for January 2019
Services PMI dropped to 56.4 in December: Broad decline but still in the growth zone
The purchasing managers’ index for the service sector (Services PMI) fell to 56.4 in December from 61.1 in November and reached the second lowest level in 2018. It was a broad decline and a clear reversal after November’s strong numbers, says Jörgen Kennemar, who is responsible for PMI analysis at Swedbank.
Read the full report for December 2018
Services PMI rose to 62.2 in November: New yearly high
The purchasing managers’ index for the service sector (Services PMI) rose by 5.8 points in November to 62.2 after having fallen four months in a row. It is too early, however, to determine whether conditions for service companies are going to strengthen.
Read the full report for November 2018
Services PMI fell to 56.3 in October: Slowing expansion
The purchasing managers’ index for the service sector (Services PMI) fell to 56.3 in October from 56.6 in September. This means that the total index declined for the fourth consecutive month, reaching a new low for the year.
Read the full report for October 2018
Services PMI fell to 56.6 in September: Downturn from high level
The purchasing managers’ index for the service sector (Services PMI) fell to 56.6 in September from 57.1 in August. The September outcome means that the total index continued to decline in the third quarter and for the second quarter in a row, but remains in the growth zone (over 50).
Read the full report for September 2018
