Sweden’s Services PMI declined to 54.2 in July 2026 from a revised 56.5 in June, when it had reached its highest level since November 2025. Despite the setback, the July figure remained above the average for the first seven months of the year (53.7).
All sub-indices weakened. The largest negative contribution came from the delivery times sub-index, which dropped to 60.1 from 64.9 in June, followed by new orders (55.8 vs. 57.6) and business volume (54.0 vs. 55.2). The employment index fell to a new yearly low of 45.9, down from 47.7 in the previous month.
Cost pressures continued to ease sharply. The price index for raw and intermediate goods fell to 65.5 from 75.1 in June. Its 17-point decline over the past two months was the largest in the index’s 21-year history.
Meanwhile, the Composite PMI decreased to 54.7 in July from 56.9 in June, when it had hit a seven-month high.