FX.co ★ Sweden’s Services PMI Eases in January, Signalling Slower Expansion

Sweden’s services sector lost some momentum at the start of 2026, with the Services Purchasing Managers’ Index (PMI) slipping to 54.3 in January from 56.3 in December 2025. The latest reading, updated on 4 February 2026, still indicates expansion in the sector, but at a slower pace on a month‑over‑month basis.

The January figure, compared with the previous month’s 56.3, highlights a moderation in growth conditions after a stronger finish to 2025. Under the comparison framework used, the “Actual” reflects January’s change relative to December, while the “Previous” captures December’s movement versus November, pointing to a cooling, though still positive, trend in Sweden’s services activity.