Sweden: Economic sentiment deteriorates but remains optimistic in April
The economic tendency indicator (ETI) came in at 109.5 in April, down from March’s 110.3. April’s result marked the weakest sentiment since March 2021. As such, the index moved closer to, but remained above the 100-point threshold. Readings above 100 indicate stronger economic growth than normal, while readings below 100 indicate weaker economic growth than normal.
The fall was largely due to a fall in the retail subsector confidence indicator. Meanwhile, the consumer confidence sub-indicator increased to 74.9 in April from 73.3 in March, while the business confidence sub-sector indicator fell to 114.6 in April from 115.0 in the prior month.