Consumers more upbeat in June
After falling for four months, the Economic Tendency Indicator rose again in June. The indicator, which summarises how firms and consumers view the economy, climbed 1 point to 103.2, which points to somewhat stronger economic growth than normal. The increase was due to the indicator for the service sector gaining 1.5 points and the consumer confidence indicator.
Firms in the manufacturing industry report healthy growth in new orders from the domestic market, while export orders have been slightly weaker. Employee numbers are said to have grown much more quickly than normal in recent months, and recruitment plans suggest unchanged employment in manufacturing in three months.
The confidence indicator for the building and civil engineering industry once again points to a very strong situation in the sector. Firms in the sector are optimistic about the outlook for the next three months.
Retailers report increased sales over the past three months, and their overall impression of the sales situation is more positive than normal. Firms in the service sector also report increased demand, and their overall assessment of current order books is much more positive than normal. Not since late 2010 have service firms been as positive.
Consumers remain pessimistic about the outlook for the Swedish economy but are relatively upbeat about their personal finances.
For further information please contact:
Maria Billstam, Head of Economic Tendency Surveys +46 8 453 59 04
Sarah Hegardt Grant, Head of Communications +46 8 453 59 11