Economic Tendency Indicator rallies in June

The Economic Tendency Indicator climbed 1.8 points from 99.2 in May to 101.0 in June after falling almost 3.5 points in May. The indicators for manufacturing and the building and civil engineering industry accounted for most of the improvement, while the retail and services indicators fell back slightly, and the consumer indicator was almost unchanged. The indicators for building and civil engineering and the retail trade are well above, and the other indicators relatively close to, the historical average.

Cautious employment plans

The confidence indicator for the manufacturing industry climbed 4.5 points in June after falling more than 7 points in May and is now back close to the historical average. Two of the three questions included in the indicator contributed to the increase: the assessment of current stocks of finished goods was more positive, and production plans were revised up, while the assessment of current order books was slightly more negative.

The confidence indicator for the building and civil engineering industry gained 4 points in June and is now almost 6 points above the historical average. Both of the questions included in the indicator made a positive contribution: the assessment of current order books was more positive, and employment plans were revised up further.

The confidence indicator for the retail trade dropped 0.6 points in June but is still well above the historical average. Two of the three questions included in the indicator made a negative contribution: historical sales were slightly less positive, and expectations for sales in the coming months were revised down, while the assessment of stocks of goods was more positive.

The confidence indicator for the private service sector fell 1.3 points in June but is still well above the historical average. All three questions included in the indicator made a negative contribution: historical demand and firms' assessment of how their operations have developed were less positive, and expectations for demand in the coming months were slightly less optimistic.

Consumers more upbeat about their personal finances

The consumer confidence indicator edged up 0.1 points in June and remains slightly more than 1 point above the historical average. Households were more optimistic about both their personal finances and the Swedish economy, and above all they were more positive about the current state of their personal finances.

For further information:

Roger Knudsen, Head of Economic Tendency Surveys +46 8 453 59 06
Maria Billstam, Assignments, methods and samples +46 8 453 59 06
Sarah Hegardt Grant, Head of Communications +46 8 453 59 11, +46 70 267 80 41

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