Households more positive about the Swedish economy
The Economic Tendency Indicator fell from 112.6 in April to 111.0 in May but still signals a very strong economy. The slight decrease was due to the manufacturing indicator dropping back again after its sharp rise in April. The consumer indicator climbed for a second month, thanks mainly to a more positive view of the outlook for the Swedish economy over the coming year.
The confidence indicator for the manufacturing industry dropped back again in May after surging to a 20-year high in April, but is still well above the historical average at 117.0. Manufacturers report healthy growth in orders in recent months, and their production and recruitment plans for the coming months remain optimistic.
The confidence indicator for the building and civil engineering industry climbed further in May and continues to signal a very strong situation.
The confidence indicator for the retail trade gained 1.1 points and is back in line with the historical average. Firms report slightly weaker sales growth than normal in recent months but are still optimistic about the future.
The confidence indicator for the service sector climbed 1.0 point in May and points to a stronger situation than normal. The increase was due to slightly more positive expectations for demand over the next three months.
Access the statistical database on www.konj.se/english
For further information:
Maria Billstam, Head of Economic Tendency Surveys +46 8 453 59 04
Sarah Hegardt Grant, Head of Communications +46 8 453 59 11