The index fell to 54.3 in January, from 56.3 in revised December figures. An index figure above 50 indicates increased activity in the sector.
"The recovery in the services sector has slowed down after a strong finish in 2025, but it is too early to assess whether it is a temporary slump. Companies are still optimistic about their business plans, which suggests that it is a temporary slowdown," says Jörgen Kennemar, economist at Swedbank, in a press release.
The weighted index for January, which also includes the manufacturing industry, fell to 54.8, compared with 56.0 in December.
