Retailers more upbeat
The Economic Tendency Indicator climbed from 111.7 in May to 112.1 in June and continues to signal considerable optimism in the economy. The retail indicator stands out, gaining no fewer than 6.9 points in June. The manufacturing indicator also rose, while the construction indicator fell. Consumers remain positive about their personal finances, but their assessment of the economy fell back after rising in May.
The confidence indicator for the manufacturing industry continues to show a very strong situation. Above all, manufacturers are unusually happy with their order books. Employee numbers are reported to have increased in recent months, and optimistic recruitment plans for the next three months point to further job creation.
Firms in the building and civil engineering industry also remain positive about their order books. Expectations for activity are still relatively strong but have trended down during the first part of the year. A higher proportion of residential developers are reporting labour shortages as the main obstacle to increased activity, despite strong employment growth in recent months.
The confidence indicator for the retail trade jumped 6.9 points in June and now signals a much stronger situation than normal. The surge was due mainly to better sales in recent months and decreased dissatisfaction with stock levels.
The indicator for the service sector did not change appreciably in June and remains slightly above the historical average. Firms are still relatively happy with current business volumes, and their recruitment plans for the next three months are very optimistic.
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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