Sweden: Economic sentiment hits new record high in June
The economic tendency indicator (ETI) rose to 119.8 in June, up from 119.3 in May and once again marking the strongest sentiment in the indicator’s 25-year history. Readings above 100 indicate stronger economic growth than normal, while readings below 100 indicate weaker economic growth than normal.
The rise in June was driven by an improvement in retail and services sub-sectors. Meanwhile, the consumer confidence sub-indicator dipped to 109.4 in June from 112.2 in May, while contrastingly, the business confidence sub-indicator increased to 118.8 from 116.4 in May.