Sweden: Economic sentiment deteriorates but remains optimistic in June
The economic tendency indicator (ETI) moderated to 105.9 in June, down from May’s 110.3. June’s result marked the weakest performance 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 came on the back of a deterioration in both the manufacturing and retail subsectors confidence indicators. Meanwhile, the business confidence subsector indicator dropped to 111.6 in June, down from May’s 114.7. Similarly, the consumer confidence sub-indicator fell to 65.5, down from the prior month’s 71.3