Sweden Services Sector Growth Picks Up in May

The Services PMI in Sweden rose to 53.9 in May 2026 from 52.6 in April, but remained below its historical average of 55.6 for a second month. The new orders sub-index contributed the most to the improvement, rising to 53.6 from 50.6 in April. The delivery times index rose for the fourth straight month to its highest level in four years (65.7 vs 63.1), while the employment index also increased (49.1 vs 47.5) but remained in negative territory. Meanwhile, the business volume index declined (48.8 vs 51.2). Cost pressures also intensified, with the raw and intermediate goods price index climbing to 80.1 from 73.4, its highest level since 2022 and well above the historical average of 58.2. Swedbank PMI analyst Jörgen Kennemar noted that the recovery in the sector is slow and fragile, adding that despite the index being in the growth zone, activity levels may still be too weak to support meaningful job creation.
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