FX.co ★ Sweden Services PMI Contracts to 48.1 in April 2024

In April 2024, Sweden's Services Purchasing Managers' Index (PMI) dropped to 48.1, indicating a contraction in the services sector. This decline comes after the previous indicator had reached 54.1 in the same month. The data, updated on 6th May 2024, shows a noticeable decrease in the sector's performance on a month-over-month basis.

The Services PMI is a key economic indicator that provides insight into the health of the services industry. A figure below 50 typically signals a contraction, while a number above 50 indicates expansion. The recent drop in Sweden's Services PMI highlights a challenging period for the sector, reflecting possible economic headwinds that policymakers and businesses may need to address to stimulate growth and recovery.