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Sweden Economic Sentiment June 2023

Sweden: Economic sentiment improves further in June

The economic tendency indicator (ETI) improved once again in June; it rose to 90.3, up from May’s 89.3, marking the best reading since September 2022. As such, the index moved closer to, but remained below, the 100-point threshold. Readings above 100 indicate stronger economic growth than normal, while readings below 100 indicate weaker economic growth than normal.

The uptick chiefly reflected improving sentiment in the retail and services sectors, which more than offset easing sentiment in both the manufacturing and building construction sectors.

Meanwhile, the business confidence subsector indicator increased to 91.8 in June, up from May’s 90.5, marking a nine-month high. Similarly, the consumer confidence sub-indicator rose to 71.7 in June, up from the prior month’s 70.3. May’s reading was the strongest sentiment in a year.

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