FX.co ★ Sweden Services Sector Growth Cools in October

Sweden’s Services PMI declined to 55.7 in October 2026 from a downwardly revised 57.3 in September, reaching its lowest level in three months. Nevertheless, the index remained above the average for the first ten months of the year for the third consecutive month. The drop in the headline PMI was broad-based, with the sharpest falls seen in new orders (56.1 vs. 58.8 in September) and delivery times (57.0 vs. 61.7). The business activity index also eased slightly, to 57.1 from 57.5. By contrast, the employment sub-index rose for a second straight month (51.9 vs. 50.3). Cost pressures stayed elevated: the suppliers’ input price index edged down to 71.7 from 73.2 but remained well above its historical average of 58.5. Meanwhile, the Composite PMI slipped to 57.0 from 57.7. According to Jörgen Kennemar, who is responsible for the PMI analysis, “Growth in the private sector remains broad, with the stronger industrial economy offsetting the weaker development in the services sector.”