Financial News: Swedish Service Sector Contracts In February

Swedish Service Sector Contracts In February

03/04/2026 - 05:44:00 (RTTNews)

(RTTNews) - Sweden's service sector activity shrank for the first time in seven months in February, survey results from Swedbank and the logistics association Silf showed on Wednesday.

The purchasing managers' index, or PMI, for the services sector dropped to 48.3 in February from 53.8 in January. Any reading below 50 indicates contraction in the sector, while a score above 50 suggests expansion.

"It is a surprisingly large decline after the sharp rise in 2025," Swedbank analyst Jorgen Kennermar said.

"It is too early to assess whether the decline is temporary or permanent, but uncertainty for both the Swedish and global economies has increased after Israel's and the US's attacks on Iran."

Among components, business volume and new orders made the largest negative contribution to the PMI services, and the index for employment eased and business plans have declined.

Price pressures eased somewhat in February, though they remained strong, with the index for raw and intermediate goods prices falling to 58.0 from 59.9 in January.

The composite output index dropped to 50.5 in February from 54.4 in January, indicating a weaker development in the Swedish business sector.

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