Suède PMI Services

The Services PMI in Sweden climbed to 59.1 in November from an upwardly revised 55.9 in October, reaching its highest level since June 2022 and marking a third straight month above the long-term average. Business volumes rebounded sharply to 65.2 from 55.3, alongside continued strength in new orders (59.5 vs 60). Order backlogs also expanded notably, hitting 58.9, their strongest level in over three years. Firms’ output plans remained firmly optimistic, rising to 67.8 from 64.9, signaling broad expectations of increased activity over the next six months. However, hiring remained subdued as the staying slightly below the 50 threshold at 49.9, despite improving from 47.6. Price pressures intensified, with input cost inflation picking up as the index rose to 57.2, the highest in eight months. Swedbank analyst Jörgen Kennemar said the services sector recovery has strengthened this autumn, with lower interest rates and rising demand shaping companies’ business plans.